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Double Top or Bottom

Bad idea to go long on PFE?Here I am again with another trade. Pfizer is one of the many stocks I have been following for quite a time waiting for a good setup and I think now it's the time to go long, Bullish RSI divergence, probable double bottom on a long time strong support area. We know this company has received a lot of heat because of covid, but Pfizer is a strong player in the healthcare industry so I hope it will rise again after all this tech AI mania goes over. I'm buying PFE for a swing trade, let's see how it goes in a few months.
NYSE:PFELong
by devdalistudio
2
$SPY May 21, 2024AMEX:SPY May 21, 2024 15 Minutes For the rise 525.18 to 531.52 4SPY earlier had retraced to 527.33. Being 61.8% retracement usually it will make double top. On that basis AMEX:SPY hit 531.56 today. It retraced to 529.17. Therefore 527.33 can be treated as HL. Now that number should hold for uptrend. Hence if we consider the rise from 527.33 to 531.56 AMEX:SPY need to hold 528.5 - 529 levels to continue the trend. But we have oscillator divergence. Hence holding 527 is important else we have a target 526-524, 524 being 23.6% retracement for the move 499.55 to 531.56. Hence for the day If 527 is broken i have a target 526 which is 200 averages in 15 minutes. And if 531.75 is broken with good close on bar then target is 534. I expect a one-sided move today based on open.
AMEX:SPY
by RiderTrader
5