$PFE - Shooting Star
On the daily timeframe we can see what looks like to be a Shooting Star candlestick which indicates the end of an uptrend and start of a downtrend. PFE has been going up for about a month straight now and has been due for a major correction along with the market as a whole. However, vaccine stocks have been on everyone’s radar as the Delta V has been on everyone’s mind. FDA approval being speculated on early September, but could easily be pushed early to end of Aug which could result to a sell the news type event. However at the same time we have big buyers stepping in but does that mean they know something we don’t or are they here for the short term? I learned that speculation turns into emotional trading so I am just going to follow the trend. But I’d be lying right now if I didn’t say that candlestick worries me. For now I am short term bearish. I can see a pull back all the way to the $45 levels. For tomorrow I can see a bounce at the $48.30 levels. We’ll see! LMK what you think!
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