I really like this setup here , not just because of PFE chart but because XLV sector itself is way overbought amd I think the position PFE is in on its chart makes it a prime beneficiary of any rebound in the sector.
Easy entry and stop loss here...
Entry Over - 40.00
Stop loss 38.50
1st target is 44$ or .5 fib
I won't stick around for the entire reversal ...
Currently in a deep discount from the 10-Oct to 12-Dec'22 swing high. Almost fully retraced.
So we see PD arrays and potential draws on liquidity in each direction.
I am marginally more bullish than bearish based off the relatively equal highs (REHs) left at the 12-Dec high. Too clean. BUT, likely looking to purge some sellside liquidity prior to the move back higher.
Going off of yesterday's watchlist and notes, we were expecting bullish movement on SPY and we got it. Very strong close again on SPY leads me to believe we will see a push higher again tomorrow, but I am not entirely sure how much higher. With that being said, I think we are set for a solid friday session. The scanner only had 5 tickers on it today with our main...
PFE beat analysts' estimates on EPS but provided an outlook that didn`t meet expectations. However, The Co expects revenues to grow by 7-9% in 2023. Considering its plans to boost business by acquiring SGEN, the current market cap looks attractive as a reverse to mean play and a fundamentally driven long-term investment case.
So #pfizer has been under relentless selling pressure. Is it over done? Let's look at a few things.
1. Every down turn saw an average of -24.46% peak to trough.
2. Stock V- bottomed after that.
3. Currently stock down -27.27% from its recent peak.
4. price at 100% fib extension
5. RSI same as covid low!
Looks a little overdone to me. What do you think?
After 9 consecutive weeks of higher lows, NYSE:PFE has broken down.
The chart has been streaky all year: Slow but steady marches downward from January to March, then July to October.
Honestly just looks like it's overdue for a fall, maybe hitting 38 by mid-March 2023.
A strong support and a nice bullish divergence.
Great fundamentals and great value.
If it is not gonna bounce from here lower fib support 37.21 USD is my all in price to enter.
First target in 3 to 4 months is 54.35 USD
I would stop below 37
The head and shoulders pattern forms when a stock's price rises to a peak and then declines back to the base of the prior up-move. Then, the price rises above the previous peak to form the "head" and then declines back to the original base. Finally, the stock price peaks again at about the level of the first peak of the formation before falling back down.
#PFE could see a double bottom bounce. If the price can break above $44.50 it could reach to $47 near term.
Target 1 - $45
Target 1 - $47
Target 2 - $51
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Trade is done when it hit one of the target or stop loss is hit.
Disclaimer: Trading note. Not an investment advice.
Trading plan:
1. Wait until CM_Ultimater_MA_MFT_V2 indicates a reversal of secondary daily trend. This indication will be confirmed by change of the color of MA from red to green. Primary trend is still bearish until confirmed to be bullish.
2. CM_Williams_Vix_Fix at local daily bottom which can be seen as a confirmation of the reversal secondary bearish...
6M Chart, PFE , on February 6, 2023, the signals on MACD have been steadily moving NE, after piercing below the histogram on July 2012; On July 2021, reached its ATH (All Time High); The RSI signal bounced over 70 and is now facing SE to test the line of 50, after bouncing up from it on January 2020; The price has been steadily falling since the ATH, from $60 to...
![PFE: [PFE] - Neutral | Pivotal Point.](https://s3.tradingview.com/h/HMUdbA3b_mid.png "[PFE] - Neutral | Pivotal Point.")
