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Pfizer Inc., Technical Analysis

2/9/2023 10:00 AM

The shares of Pfizer Inc., the largest US pharmaceutical company, are correcting at 44.00.

On the daily chart, the price is holding in the global corridor with dynamic boundaries 56.00–43.00, having reached the support line yesterday.

On the four-hour chart, the decline may be completed, as all the targets for the down wave have been fulfilled, and a reversal at 43.00 has already begun to form, the key marker of which will be the breakdown of 45.00. The "bearish" key level is the previous low set in early October, around 42.00.

Technical indicators keep a stable sell signal but have begun to form a reversal: fast EMAs on the Alligator indicator are approaching the signal line, and the AO histogram is forming rising bars in the sell zone.

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