Today we'll analyze the Stock PFE for online market trading,
Technical indicators to notice:
1- Last bullish trend was from 22.19$ (01/18/08) to 23.26$ (02/01/08) a 1.07$ move
2- The current bearish trend started from 23.26$ at 02/01/08 and is currently trading at 20.59$.
3- According to ADX, the trend is currently bearish, which is getting stronger.
Short term chart patterns :
4- The Stock traded in a bearish channel identifed by support at 22.19 and 22.51, resistance between 23.26 and 23.69 which was broken down at 20.64 in higher than usual volume.
Mid term chart patterns :
5- The Stock was resisted by a resistance line, identified by two points: 24.06 and 24.92, and is currently resisting at 22.6267.
Long term chart patterns :
6- The Stock was resisted by a resistance line, identified by two points: 24.92 and 26.64, and is currently resisting at 22.6267.
Conclusion:
PFE was trading in a bearish wave, which is becoming stronger .
Technical indicators and chart patterns show bearish direction,
recommend hedging long positions or entering short position or bearish spread options strategy .
Resistance Levels: 20.75, 21.22, 21.61, 21.92, 22.24, 22.63, 22.63, 23.26.
Support Levels: .
Friday, March 21, 2008
Pfizer Inc. (PFE) Technical Analysis
That's all for today ... thanks for reading the post,
come back soon for more updates,
use the search to lookup for more interesting stocks you might be interested in,
feel free to leave your comments on the post, or contact me
enjoy your online market trading!!
have a nice day,
Shadi
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