Pfizer has bounced in March after two negative months, and now it’s having a quick pullback.
The first pattern on today’s chart is the 50-day simple moving average (SMA), which PFE recently crossed above. Other times the pharmaceutical giant moved over (or under) this SMA were followed by continuation higher (or lower). For example, last September, November and January.
Second is the $51.80 area, a high in August and near a pivot low in December. It was also the location of a high-volume gap on February 8. PFE is less than $1 above the level now. Will buyers defend it?
Third, the eight-day exponential moving average (EMA) has risen above the 21-day EMA. That pattern identified intermediate-term trend changes at other times like September and late October. (See the white arrows.)
Finally, MACD is rising.
TradeStation has, for decades, advanced the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
Important Information
TradingView is not affiliated with TradeStation Securities Inc. or its affiliates. TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means.
This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates.
Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: www.tradestation.com/important-information.
The first pattern on today’s chart is the 50-day simple moving average (SMA), which PFE recently crossed above. Other times the pharmaceutical giant moved over (or under) this SMA were followed by continuation higher (or lower). For example, last September, November and January.
Second is the $51.80 area, a high in August and near a pivot low in December. It was also the location of a high-volume gap on February 8. PFE is less than $1 above the level now. Will buyers defend it?
Third, the eight-day exponential moving average (EMA) has risen above the 21-day EMA. That pattern identified intermediate-term trend changes at other times like September and late October. (See the white arrows.)
Finally, MACD is rising.
TradeStation has, for decades, advanced the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
Important Information
TradingView is not affiliated with TradeStation Securities Inc. or its affiliates. TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means.
This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates.
Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: www.tradestation.com/important-information.