The bad news with Pfizer's clinical trial is great news for traders and investors.
Why? Because the 'bottom' has been gauged by this piece of over the weekend news.
The bad news does not materially affect existing revenue stream and earnings.
The lack of movement intraday suggests that institutions have completely priced in the negative effect of the news before market open.
Anyone who wanted and NEEDED to sell has mostly sold, and there was no lack of buyers to take those orders at the $35.50.
Perfect opportunity for a long trade, short term or long.
Anything above 34.50 is a BUY.
Interval Targets are the Fibonacci levels on the chart. Final target: $45
Why? Because the 'bottom' has been gauged by this piece of over the weekend news.
The bad news does not materially affect existing revenue stream and earnings.
The lack of movement intraday suggests that institutions have completely priced in the negative effect of the news before market open.
Anyone who wanted and NEEDED to sell has mostly sold, and there was no lack of buyers to take those orders at the $35.50.
Perfect opportunity for a long trade, short term or long.
Anything above 34.50 is a BUY.
Interval Targets are the Fibonacci levels on the chart. Final target: $45
Trade closed: stop reached:
-3.05% Loss. A good trade despite the loss. No hindsight. Triggered by market condition. 30.4 would be another potential entry.