Current trend

Since mid-April, shares of Pfizer Inc., the largest American pharmaceutical company, have been trying to resume growth. At the beginning of last month, they reached the pivot level of 29.69 (Murrey level [6/8]) but could not break higher and corrected to the area of ​​27.34 (Murrey level [3/8]). The positive dynamics resumed, and the quotes are testing the central mark of the Murrey trading range of 28.12 (Murrey level [4/8]), supported by the middle line of Bollinger Bands. A consolidation above will allow the asset to reach the area of ​​29.69 (Murrey level [6/8]) and 30.47 (Murrey level [7/8]). In case of consolidation below 27.34 (Murrey level [3/8]), a decline to the area of ​​25.78 (Murrey level [1/8]) and 25.00 (Murrey level [0/8]) is expected.

Technical indicators reflect a short-term downward trend: Bollinger Bands and Stochastic reverse downwards, and the MACD histogram is stable in the negative zone.

Support and resistance

Resistance levels: 28.12, 29.69, 30.47.

Support levels: 27.34, 25.78, 25.00.

Trading tips

Short positions may be opened below 27.34, with the targets at 25.78, 25.00 and stop loss 28.00. Implementation period: 5–7 days.

Long positions may be opened above 28.12, with the targets at 29.69, and 30.47 and stop loss 27.55.