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Pfizer Inc., Murrey Analysis

11/28/2022 4:02 PM

Shares of Pfizer Inc., the largest US pharmaceutical company, have continued to rise since the middle of last month.

The price reversed at the lower border of the central Murrey channel at 42.19 ([3/8]) and is now close to the upper border of the trading range around 50.00 ([8/8]), consolidation above, which will give the prospect of continued growth in the reversal zone to 51.56 ([+1/8]) and 53.12 ([+2/8]), while the quotes will leave the long-term downward channel. The key “bearish” range is the support zone 47.80–46.88 (the middle line of Bollinger bands, [6/8]), and after its breakdown, the trading instrument will be able to return to 45.31 ([5/8]) and 43.75 ([4/8]).

Technical indicators signal a continuation of the short-term uptrend: Bollinger Bands and Stochastic are reversing upwards, and MACD is stable in the positive zone.

Resistance levels: 50.00, 51.56, 53.12. | Support levels: 46.88, 45.31, 43.75.

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