PFE - Pfizer drop from medain line.Here's not much on the chart.
But what you see is evident.
The pitchforks median line is respected by price many times. And this time it's the same.
But there's a reason why this time price could flush down to the L-MLH. Indexes are weaker and weaker.
The first profit target for me is either the L-MLH, or the A/R (yellow) line. The Action/Reaction line is projected from above's swing range.
So, there we have another one to the short side.
I have more short charts than longs.
However, I always try to keep my overall portfolio balanced.
How?
There are always industries and sectors which perform to the long side, even when markets tank. It's simple but it takes effort.
Pfizershort
Pfizer to stall at major resistance?Pfizer - Medium Term - We look to Sell at 39.88 (stop at 41.08)
Bespoke resistance is located at 40.
40.14 has been pivotal.
40.37 has been pivotal.
Daily signals are bearish.
We look for a temporary move higher.
Our profit targets will be 37.08 and 36.58
Resistance: 37.05 / 38.30 / 39.00
Support: 36.03 / 35.50 / 35.00
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Pfizer: Buy Zone is 50-52Pfizer is still working on its 5-wave move off the low. Over the next few days it should finish up this W-4 which would take price to the 50-52 region at least. After that, I expect Pfizer should complete its 5-wave move with a push up to about the 58-60 level. However, after that it should return to approximately current levels again, so there will be plenty of opportunity to accumulate shares over the next couple weeks. I suspect this stock can reach 70-80 range this year.
Pfizer: Ready to Shoot Lower? Pfizer - Short Term - We look to Sell at 49.33 (stop at 51.54)
The trend of lower highs is located at 53.50. Previous support located at 50.00. A move through bespoke support at 50.00 and we look for extended losses. Closed below the 20-day EMA. The medium term bias remains bearish.
Our profit targets will be 43.51 and 41.00
Resistance: 54.00 / 57.00 / 60.00
Support: 50.00 / 45.00 / 40.00
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PFIZER - SELL strategyPFIZER shares even though in a long-term uptrend, may have some minor correction short-term.
The $ 58.61 resistance and $ 50.98 is the defined range currently, and selling into slightly higher levels is advisable.
RANGE TRADE $51-59 for now. For medium-term buy low $51 for move towards $ 78.