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Pfizer Inc., Technical Analysis

11/4/2022 10:32 AM

The shares of Pfizer Inc., the largest US pharmaceutical company, are correcting above 46.00.

On the daily chart, the price is approaching the boundaries of the previously realized global Triangle pattern with dynamic boundaries 48.00–50.00, approaching the support line at 48.00 from below.

On the four-hour chart, it can be seen that the local Head and shoulders pattern has already been fully implemented, and the current slight decrease is a correction. Confidence that the growth will continue, gives the price crossing the initial correction level of 23.6% Fibonacci around 46.30.

Technical indicators keep a stable buy signal despite the correction: fast EMAs on the Alligator indicator are significantly above the signal line, and the AO oscillator histogram is forming up bars in the buying zone.

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