Pfizer technical chart indicators and studies suggest caution being prices congested within the wide range 29.94/29.32.
Pfizer yestarday close was at 29.74 (+1.29%). Technical chart indicators and studies suggest caution being prices congested within the wide range 29.94/29.32 but above the intermediate support level placed at 29.67. Today trading session forecast is for further price extensions towards the most significant resistance levels even if the major oscillators still show a moderate negativity.
View the interactive chart on ProRealTime.com
Simple Moving Average (SMA)
The price is below the 14 days moving average (SMA value is 29.89). The short term view is therefore bearish, however for today trading session we can’t exclude retracements towards the most significant resistance levels.
Daily chart shows volume is higher than the previous day. This could be a sign of a significant move to come.
Support and Resistance levels
7, 15 and 30 trading days Performance. Support, Resistance and Pivot Point levels. Last updated closing price: 09/03/2016.
Performance: 7 trading days= -1.00% – 15 trading days= +0.64% – 30 trading days= -2.56%
Resistance levels: R1= 29.92 – R2= 30.10 – R3= 30.53
Pivot Point: 29.67
Support levels: S1= 29.49 – S2= 29.24 – S3= 28.81
DAILY TRADING SIGNALS
Buying opportunity above 29.81, targets minor resistance at 30.17 and perhaps as far as strong resistance at 30.43, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 31.09.
Selling opportunity below 29.57, targets minor support at 29.20 and perhaps as far as strong support at 28.95, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 28.31.