Pfizer long-term movement after a deep correction - risky paperH i,
I looked at Pfizer's chart and it looks like this deep correction won't stop until the $30 zone. The fact that side effects have developed worldwide due to the Covid vaccine and many people have filed lawsuits against pharmaceutical companies probably also plays a role in this deep decline.
There is a lot of money in the pharmaceutical industry, so I think that the companies will have plenty of money to cover possible legal costs. And since in several countries they have signed papers that they request the vaccination on their own responsibility, the exclusion of liability will be justified in many cases.
The $30 zone seems like a perfect turning point because I see it as a strong level. If the $30 zone holds, we will most likely look at the $40 zone, which also coincides with an important Fibonacci level.
Do not forget. This does not constitute investment advice. Do your own research before entering a position.
Regards
In extreme cases, the $27 level is also possible.
Pfizersignals
PFIZER Buy signal but only on the short-term.Pfizer (PFE) has been trading within a Channel Down pattern since the start of the year and on Friday it registered the strongest green 1D candle since the recent Lower Low leg started in August. This is technically the start of the new rebound leg towards a new Lower High. Those have been priced within the 1D MA50 (blue trend-line) and 1D MA100 (green trend-line), never breaking above the latter.
We are therefore targeting the 1D MA50 again at 34.50, an average estimate based on the previous three Lower High legs. Note that this is only a short-term trade as the long-term trend remains heavily bearish within the Channel Down. Only a 1D candle closing above the 1D MA100 can justify a longer term buy targeting the 1D MA200 (orange trend-line).
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PFIZER Broke above its 2022 Bear Channel!Pfizer (PFE) broke and closed today above the Channel Down that has been dominating the 2022 Bear Market since the January 11 High. At the same time the 1D RSI has been ranging and while the 1D MA200 (orange trend-line) held successfully last time, we do expect one last test or for an even more comfortable long-term buy, the 1D MA50 (blue trend-line).
As you may notice, the Fibonacci retracement levels since the All Time High, formed solid Resistance and Support levels during the downtrend, so after the next pull-back our target will by the 0.786 Fib at 57.35.
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