Buyers target $200 from support zone

Philip Morris International Inc. (PM) is currently trading around a key support zone where buyers could have taken new position. Thus, traders could see this stock skyrocket to $200 and beyond in the coming days.

Philip Morris International Inc. (PM) is a leading global tobacco and nicotine company headquartered in Stamford, Connecticut. It manufactures and markets well-known cigarette brands, including Marlboro, and is actively transitioning toward smoke-free products through its “Beyond Nicotine” strategy. PMI’s flagship smoke-free product, IQOS, uses heat-not-burn technology and has gained significant global adoption. Operating in over 180 markets, the company focuses on reducing the health impact of smoking by investing heavily in science-based alternatives and next-generation nicotine delivery systems.

PM weekly chart- 29th October 2025

From the all-time low of $32 in March 2009, PM’s stock price has surged over 475%, peaking at $186 in June. Since then, it has completed a 3-swing structure. While we anticipate at least a 5-swing chart evolution, the 3rd swing appears incomplete. We’ve identified the first swing, ending at the June 2017 peak, as wave (I). A pullback followed, correcting it in wave (II), which ended at the March 2020 low. From there, wave (III) began. Wave (III) could target $204, 1.618 of (I) from (II), and potentially even higher.

Meanwhile, waves I and II of (III) started and ended at the February 2022 high and September 2022 low, respectively. From September 2022, a strong wave III of (III) emerged, completing at the June 2025 peak, the current all-time high. The pullback from this peak is evolving as wave IV. The long-term chart indicates a strong, bullish sequence. We favor buying at the extremes of 3, 7, or 11-swing pullbacks, which we typically mark with a blue box on our charts.

PM Elliott Wave trade setup (daily chart)- 29th October 2025

The daily chart above captures the final sub-waves of wave III and the sub-waves of wave IV. The chart shows wave IV completed a 7-swing pullback within the 144.10-124.79 blue box buying zone. From this zone, traders and investors can anticipate at least a 3-swing bounce. This bounce is sufficient to allow traders to move their Long position from the blue box to a risk-free position. Ideally, we expect a 5-wave surge for wave V to reach $200 or higher. Once wave V peaks, wave (III) will finish, initiating a pullback for (IV), creating another buying opportunity. Given this bullish trend, we prefer to avoid selling; instead, we wait for dips and buy from the blue box. You can join thousands of our members to trade the blue box on 78 instruments on not just the daily and weekly charts, but the H4 and H1 charts.