In today’s stock of the day, let’s take a look at Philip Morris International, which is currently flashing a very clean and technically strong buy signal. After a period of weakness, the price action shows clear signs of reversal and renewed bullish momentum. On the chart, we can see a blue wedge pattern — a formation that typically signals the end of a correction phase and the beginning of a new upward move. What makes this setup even more compelling is that the lower boundary of the wedge aligns perfectly with a key yellow horizontal support, adding further technical significance to this level.
The reversal itself is shaped beautifully. Two days ago, Philip Morris formed a hammer candlestick, a classic bullish reversal pattern, signaling rejection of lower prices and renewed buying interest. This was followed by a strong bullish candle yesterday, confirming that buyers have stepped in with conviction. Such a sequence — a hammer followed by a strong bullish continuation candle — often serves as the first wave of a new upward trend. In many cases, this kind of formation marks the beginning of sustained recovery, especially when it comes after a prolonged correction inside a wedge.
From a trading perspective, the setup is straightforward. The wedge formation is nearing completion, and a daily close above the upper blue line would confirm a breakout to the upside — a textbook buy signal. The first target for this move lies at the highs from June, while longer-term traders may aim even higher if the bullish momentum continues. As long as the price stays above the yellow horizontal support, the sentiment on Philip Morris remains decisively positive, and buyers seem ready to take control.