Buy on Break-Out - PFE [S] 23 June 2021PFE
Reversal detected after bouncing off support at 38.70
Broke downwards trend on 21/6/2021. Bounced off the long-term bullish trend line.
Showing recovery strength with Green candle and 1st Green Heikin-Ashi on 22/6/2021.
Look for bullish confirmation if 3 White Soldiers on 23/6.
Price action is still moving along the long term bullish trend. Will show strength if 40-ish resistance zone can be broken.
Based on Swing and ATR, Stop Loss can be at 38.04
First Take Profit target at 40.58 (Fib 78.6%), second TP target at 42.77 (Fib 161.8%)
Trend
Monthly: Uptrend
Weekly: Uptrend
Daily: Uptrend
Volume: Decreasing (Diverging againt increasing price)
SMA: Bullish , Showing strength as 50MA is moving away from 200MA
Slow Stochastics: Bullish Crossover on 22 June
RSI: Showing slight uptrend
Wait for good breakout and confirmation at final trading hour
TF1D Break-out at 39.84
TF1H Confirmation: Green Candle
Rating m w d 4h h: SB B B B B
