Pfizer Stock Analysis (PFE) - Potential Breakout with Support and RSI Divergence Based on the information provided, we can craft an analysis of Pfizer stock (PFE) suggesting a potential breakout opportunity with underlying support and bullish RSI divergence. However, it's crucial to remember that this is not financial advice, and you should always conduct your own research before making any investment decisions.
Technical Indicators:
New Higher Low: This signifies a potential reversal in the downtrend, indicating buyers are stepping in at lower levels. Monthly RSI at 30: The Relative Strength Index (RSI) dipping below 30 suggests the stock is oversold, potentially hinting at an upcoming price reversal. Fibonacci Retracement Support: Identifying support at the previous low using Fibonacci retracements adds technical credence to the potential breakout. Interpretation:
The combination of these indicators paints an interesting picture. The new higher low and oversold RSI suggest a potential buying opportunity, while the Fibonacci support level adds a layer of technical confirmation. This could indicate an impending breakout from the downtrend.
Trade active
⋅
A Volatility Contraction Pattern (VCP) is forming here, holding the 8 EMA with strong support... could move in this range for a few days .
Trade active
⋅
Just an update an clarify the trade... I'm long term into this trade ( years) considering the Dividend yield at 6% vs 4.75% in high yield savings accounts. I'm using both time frames daily and monthly charts, to make my analysis and decisions, saying that I added more shares today.
Trade active
⋅
Nice move so far today, couple of comments: So far price has move above the 21 EMA ($27.61) very positive if it can close & hold above it this week. Next move will be re taking the 50SMA ($28.08). Just remember this is a long term play.
Comment
⋅
So far stock is behaving as expected in this range.... I added today to my position. I will keep adding on red days, while it consolidates.
Trade active
⋅
Stocks still in consolidation range, I just added to my position this morning
Trade active
⋅
Looks we will testing previous low, before a reversal hug volume this week..... added more shares today.
Trade active
⋅
Added more this morning -tested previous low and bouncing back. selling $25 puts could be a good play here as well.
Trade active
⋅
Very positive price action so far. Yesterday we made a new 52 week low, with a higher RSI value compare to previous low's RSI - divergence- this might suggests a potential bullish reversal. Patience is the key, as big boy will try to shake you out and grab your shares.
Trade active
⋅
$27.85 is my next target ( 50 SMA) expecting a test to this level with few fake break outs and resistance in the next weeks until earnings.
Trade active
⋅
Good price action today on NYSE:PFE , stock was able to clear the $27.85 ( 50SMA) resistance level and closed the gap that existed from Dec 13th. Next target will be $30 and a confirm support of the 50SMA in the next weeks.
If it doesn't break below 26 and surprises with good earnings this could find a new home around 34 where it can hover for the whole summer and autumn. Needs good numbers though...