Philip Morris Hits New 52-Week at $71.76

Many traders and investors see the 52-week high or low as an important indicator. Stocks that have a long-term trend in a certain direction are likely to continue, as that trend is the path of least resistance. In this case, shares of Philip Morris PM are hitting new 52-week highs. Traders and investors believe this to be a positive indicator that the stock will continue its trend.