The shares of Pfizer Inc., the largest US pharmaceutical company, are correcting at 40.00.
On the daily chart, the price is moving within a corridor with dynamic boundaries 53.00–38.50 and reached the support line yesterday.
On the four-hour chart, despite the formation of a local reversal near the support level, the potential for the further decline is still high, as indicated by the holding of quotes below the underlying trend of 100.0% Fibonacci extension around 41.50, and an upward movement will be possible only after consolidation above it.
Technical indicators weaken the sell signal: fast EMAs on the Alligator indicator are at a sufficient distance from the signal line, and the AO histogram forms corrective bars in the sell zone.