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Pfizer Inc., Technical Analysis

9/13/2022 11:16 AM

Shares of Pfizer Inc., the largest US pharmaceutical company, are trading around 48.00.

On the daily chart, a global corrective trend is forming, and the price is clamped within the Triangle pattern with dynamic boundaries of 45.00–51.00.

On the four-hour chart, it is seen that the local decline ended with the support line at 45.00, after which a reversal was formed, and the quotes of the trading instrument are heading towards the resistance line at 50.30. Taking into account the lengths of local waves, the moment of the pattern implementation will not come soon, and the asset is expected to decline after the end of the current upward impulse.

At the moment, fast EMAs on the Alligator indicator are approaching the signal line, and the AO oscillator histogram is forming up bars in the sell zone.

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