The PFE stock, Pfizer, Inc., looks like is about to take a deep dive... Going red... Let's have a look!
The most obvious signal is the weekly candle today moving below EMA50, telling us that this stock is preparing to drop for months.
Pfizer, Inc. peaked December 2021. In mid-December 2022 PFE printed the inverted hammer bearish candlestick pattern or shooting star.
This candlestick came at a long-term lower high (Dec. 2022 vs Dec. 2021).
Trading volume has been decreasing since November 2020.
The RSI has moved below 50, now bearish, and is trending down strong.
The next and at the same time critical support level is 48.24. If this level breaks, PFE is going to move to 39.91 as a new low with even lower possible, but this level is the main one.
Bearish target of 39.91 at 0.618 Fib. retracement level followed by 0.786 or 33.98.
There is something going on at Twitter as well... I don't know...
Do your own research... Not only about trading but also about your health.
Thank you for reading.
Namaste.
Comment
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$39 target hits perfectly... We will see how the rest goes.