| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL STOP |
| Entry Point | 25.60 |
| Take Profit | 22.70 |
| Stop Loss | 27.00 |
| Key Levels | 21.00, 22.70, 25.60, 26.00, 27.00, 30.00, 30.20 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 27.60 |
| Take Profit | 30.20 |
| Stop Loss | 26.00 |
| Key Levels | 21.00, 22.70, 25.60, 26.00, 27.00, 30.00, 30.20 |
Shares of Pfizer Inc., the largest American pharmaceutical company, are trading at 26.00.
On the daily chart, the price remains above the resistance line of the downward channel with dynamic boundaries of 26.00–21.00, declining towards it for reverse testing since last week.
On the four-hour chart, the quotes are close to the year’s low of 25.60. If the reverse test continues for a long time, the asset may return to the range and reach the support level of 21.00. In case of a reversal at 25.50, growth to 30.00 is expected.
Technical indicators issued a sell signal: fast EMA on the Alligator indicator are below the signal line, and the AO histogram is forming downward bars below the transition level.
Trading tips
Short positions may be opened after the price declines and consolidates below 25.60, with the target at 22.70. Stop loss – 27.00. Implementation period: 7 days or more.
Long positions may be opened after the price rises and consolidates above 27.60, with the target at 30.20. Stop loss – 26.00.
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