Philip Morris Wave Analysis – 28 October, 2021

• Philip Morris reversed from strong support level 94.45

• Likely to rise to resistance level 97.00                                                                    

Philip Morris today reversed up from the strong support level 94.45 (which has been reversing the price from the middle of July), strengthened by the lower daily Bollinger Band.

The upward reversal from the support level 94.45 stopped the previous impulse waves 3 and (C).

Given the strength of the support level 94.45 and the clear daily uptrend, Philip Morris can be expected to rise further toward the next resistance level 97.00.