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Pfizer Inc., Technical Analysis

2/24/2023 10:06 AM

The shares of Pfizer Inc., the largest US pharmaceutical company, are correcting at 42.00.

On the daily chart, the price is holding within the global corridor with dynamic boundaries 54.30–41.60 and almost reached the support line yesterday.

On a four-hour chart, it can be seen that the support line of the global channel coincides with last year's low of 41.60, and its breakdown will mean the beginning of a new global downward cycle, the key level for which is 39.00.

Technical indicators maintain a stable sell signal: fast EMAs on the Alligator indicator move away from the signal line, expanding the range of fluctuations, and the AO histogram forms corrective bars in the sell zone.

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