Is this the beginning of a reversal? Pfizer (PFE) experienced a significant surge when they became the first to develop a vaccine against the virus whose name should not be spoken. Afterward, investors took profits, leading to a decline in the stock's chart.
Currently, the price has reached the lower band of the parallel channel, suggesting that sellers might switch to buyers.
Regarding the indicators:
- The 3 Line Indicator shows a reversal, with all three lines forming a triple bottom. The red line (short trend) is already moving higher.
- The RSI is breaking out of a channel and pointing straight to the upside, with a bullish divergence in the lower timeframes.
- A rare green bullish signal has appeared on the chart, indicating a pivotal moment.
This could be the bottom of a long downtrend for Pfizer. I look forward to seeing more developments.
#Pfizer
