Is Pfizer Trying to Turn?Pfizer has struggled for years, but some traders may see signs of a turn.
The first pattern on today’s chart is the pair of positive moves after stronger-than-expected earnings reports. Those may reflect improving fundamentals for the drugmaker.
Second, the 50-day simple moving average (SMA) had a “golden cross” above the 200-day SMA last month. Has the longer-term trend improved?
Next, PFE made a lower low on Tuesday versus Monday and a higher high. That “outside day” may be viewed as a potentially bullish reversal pattern.
Finally, stochastics turned up after hitting an oversold condition.
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