Pfizer Analysis. 3 reasons to watch.
Hello Everyone,
I hope you all had a good start to the New Year.
Pfizer (PFE) has been in the news a lot recently due to their vaccine. There may also be a few reasons to keep an eye on their stock price.
1) Support/Resistance- PFE ended the year with a pull-back. The price is currently being supported around $37. Price has hit resistance at $37 three times since May 2020. Price broke through the resistance in Nov 2020 and appears to be forming a new support in this range.
2) Fibonacci Retracement- This support/resistance area ($37) also coincides with a 61.8% retracement from the most recent low from Oct 2020 (see attached chart). Price has not closed below the 61.8% retracement as of writing.
3) MACD Divergence- Looking at the MACD/price chart, the MACD is diverging from the price. Hidden Bullish Divergence formed on the price chart/MACD at $37. This may further prove price has found a new support at $37.
I would personally like to see a close above the 50-day EMA prior to entering any trades so I will continue to watch closely.
Thank you for reading and please do your own research before trading
I hope you all had a good start to the New Year.
Pfizer (PFE) has been in the news a lot recently due to their vaccine. There may also be a few reasons to keep an eye on their stock price.
1) Support/Resistance- PFE ended the year with a pull-back. The price is currently being supported around $37. Price has hit resistance at $37 three times since May 2020. Price broke through the resistance in Nov 2020 and appears to be forming a new support in this range.
2) Fibonacci Retracement- This support/resistance area ($37) also coincides with a 61.8% retracement from the most recent low from Oct 2020 (see attached chart). Price has not closed below the 61.8% retracement as of writing.
3) MACD Divergence- Looking at the MACD/price chart, the MACD is diverging from the price. Hidden Bullish Divergence formed on the price chart/MACD at $37. This may further prove price has found a new support at $37.
I would personally like to see a close above the 50-day EMA prior to entering any trades so I will continue to watch closely.
Thank you for reading and please do your own research before trading
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إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.