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Pfizer Inc., Murray Analysis

11/10/2022 2:31 PM

The quotes of Pfizer Inc., the largest American pharmaceutical company, have continued to correct upwards since the middle of last month in relation to the long-term downward trend. During this time, the price has reversed from the lower boundary of the central channel 42.19 ([3/8]), moved into the positive part of the Murray trading range and is currently actively testing the reversal level of 46.88 ([6/8]). Consolidation above it will give the prospect of continued growth to the levels of 50.00 ([8/8]) and 51.56 ([+1/8], the upper limit of the long-term descending channel). The key level for the "bears" is 45.31 ([5/8], the middle line of the Bollinger Bands), with its breakdown, the decline will resume in the area of 43.75 ([4/8]) and 42.19 ([3/8]).

Technical indicators point out the preservation of the upward correction potential: the Bollinger Bands and the Stochastic are reversing upwards, the MACD histogram is stable in the positive zone.       

Resistance levels: 48.44, 50.00, 51.56. | Support levels: 45.31, 43.75, 42.19.

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