PM stock recently ran into a trendline with historically bearish implications Short-term put options are attractively priced on the stock at the moment The shares of Philip Morris International Inc. (NYSE:PM) are trading 1% lower today at $83.51, after Berenberg cut its price target on the tobacco stock to $85 from $100. This negative price action echoes PM's longer-term downtrend, but a short-lived rally attempt into a key trendline could indicate the equity is headed on its next leg lower. Specifically, a quick bounce off its post-earnings lows brought the stock right up to its 80-day moving average. According to Schaeffer's Senior Quantitative Analyst Rocky White, in the eight most recent... [Read more]