Updating Pfizers Technical Condition

Author : LavadaCrooks
Publish Date : 2021-04-21 05:25:19
Updating Pfizers Technical Condition

We last looked at Pfizer (PFE) back on March 8 and wrote that "PFE may continue to hold around $34 and that's okay but the quantitative downgrade to hold and a Point and Figure target of $30 tells us to be careful as we could see a retest of the June low in the weeks ahead. It may not happen but luck favors the prepared." 

Let's check and see how the charts look today. 

In this updated daily bar chart of PFE, below, we can see that PFE decided to hold around the $34 area in early March and has been creeping higher since. By late March PFE was trading back above the 50-day and 200-day moving averages. The slope of these two averages eventually turned positive in April.

The On-Balance-Volume (OBV) line bottomed in March and turned upwards this month telling us that buyers of PFE have turned more aggressive. The Moving Average Convergence Divergence (MACD) oscillator crossed above the zero line in the middle of March for a fresh outright go long signal. 

In this weekly bar chart of PFE, below, we can see that the longer-term picture of PFE is improving. Prices are above the rising 40-week moving average line.

The weekly OBV line shows improvement from the middle of February. The weekly MACD oscillator has just turned up above the zero line for a buy signal in this time frame.  

In this Point and Figure chart of PFE, below, we used daily price data. Here the software is projecting the $48 area as a price objective. 

In this second Point and Figure chart of PFE, below, we used we

We last looked at Pfizer (PFE) back on March 8 and wrote that "PFE may continue to hold around $34 and that's okay but the quantitative downgrade to hold and a Point and Figure target of $30 tells us to be careful as we could see a retest of the June low in the weeks ahead. It may not happen but luck favors the prepared." 

Let's check and see how the charts look today. 

In this updated daily bar chart of PFE, below, we can see that PFE decided to hold around the $34 area in early March and has been creeping higher since. By late March PFE was trading back above the 50-day and 200-day moving averages. The slope of these two averages eventually turned positive in April.

The On-Balance-Volume (OBV) line bottomed in March and turned upwards this month telling us that buyers of PFE have turned more aggressive. The Moving Average Convergence Divergence (MACD) oscillator crossed above the zero line in the middle of March for a fresh outright go long signal. 

In this weekly bar chart of PFE, below, we can see that the longer-term picture of PFE is improving. Prices are above the rising 40-week moving average line.

The weekly OBV line shows improvement from the middle of February. The weekly MACD oscillator has just turned up above the zero line for a buy signal in this time frame.  

In this Point and Figure chart of PFE, below, we used daily price data. Here the software is projecting the $48 area as a price objective. 

In this second Point and Figure chart of PFE, belo

We last looked at Pfizer (PFE) back on March 8 and wrote that "PFE may continue to hold around $34 and that's okay but the quantitative downgrade to hold and a Point and Figure target of $30 tells us to be careful as we could see a retest of the June low in the weeks ahead. It may not happen but luck favors the prepared." 

Let's check and see how the charts look today. 

In this updated daily bar chart of PFE, below, we can see that PFE decided to hold around the $34 area in early March and has been creeping higher since. By late March PFE was trading back above the 50-day and 200-day moving averages. The slope of these two averages eventually turned positive in April.

The On-Balance-Volume (OBV) line bottomed in March and turned upwards this month telling us that buyers of PFE have turned more aggressive. The Moving Average Convergence Divergence (MACD) oscillator crossed above the zero line in the middle of March for a fresh outright go long signal. 

In this weekly bar chart of PFE, below, we can see that the longer-term picture of PFE is improving. Prices are above the rising 40-week moving average line.

The weekly OBV line shows improvement from the middle of February. The wee

We last looked at Pfizer (PFE) back on March 8 and wrote that "PFE may continue to hold around $34 and that's okay but the quantitative downgrade to hold and a Point and Figure target of $30 tells us to be careful as we could see a retest of the June low in the weeks ahead. It may not happen but luck favors the prepared." 

Let's check and see how the charts look today. 

In this updated daily bar chart of PFE, below, we can see that PFE decided to hold around the $34 area in early March and has been creeping higher since. By late March PFE was trading back above the 50-day and 200-day moving averages. The slope of these two averages eventually turned positive in April.

The On-Balance-Volume (OBV) line bottomed in March and turned upwards this month telling us that buyers of PFE have turned more aggressive. The Moving Average Convergence Divergence (MACD) oscillator crossed above the zero line in the middle of March for a fresh outright go long signal. 

In this weekly bar chart of PFE, below, we can see that the longer-term picture of PFE is improving. Prices are above the rising 40-week moving average line.

The weekly OBV line shows improvement from the middle of February. The weekly MACD oscillator has just turned up above the zero line for a buy signal in this time frame.  

In this Point and Figure chart of PFE, below, we used daily price data. Here the software is projecting the $48 area as a price objective. 

In this second Point and Figure chart of PFE, below, we used weekly close only price data. Here a longer-term price objective of $55 is being projected. 

Bottom line strategy: In early March we worried about further weakness in PFE and now we are expecting further strength. Traders should look to buy a dip towards $38 risking below $35. Buy more above $44. $48 and then $55 are our price objectives. 

Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.

kly MACD oscillator has just turned up above the zero line for a buy signal in this time frame.  

In this Point and Figure chart of PFE, below, we used daily price data. Here the software is projecting the $48 area as a price objective. 

In this second Point and Figure chart of PFE, below, we used weekly close only price data. Here a longer-term price objective of $55 is being projected. 

Bottom line strategy: In early March we worried about further weakness in PFE and now we are expecting further strength. Traders should look to buy a dip towards $38 risking below $35. Buy more above $44. $48 and then $55 are our price objectives. 

Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.

w, we used weekly close only price data. Here a longer-term price objective of $55 is being projected. 

Bottom line strategy: In early March we worried about further weakness in PFE and now we are expecting further strength. Traders should look to buy a dip towards $38 risking below $35. Buy more above $44. $48 and then $55 are our price objectives. 

Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.

ekly close only price data. Here a longer-term price objective of $55 is being projected. 

Bottom line strategy: In early March we worried about further weakness in PFE and now we are expecting further strength. Traders should look to buy a dip towards $38 risking below $35. Buy more above $44. $48 and then $55 are our price objectives. 

Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.



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