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Philip Morris Is Running Out of Steam

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Philip Morris (PM - Get Report) has had a great run since its Oct. 2 bottom but its stock chart shows it could be running out of steam.

A week after tracing out a key upside reversal that day, the stock easily moved past its 50- and 200-day moving averages. The three-week rally is extending into this week, but signs of exhaustion are beginning to appear. Bullish investors may want to take a more cautious approach as the stock pushes further into overbought territory. A healthy pullback may soon develop.

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