Pfizer Inc (PFE) Down 1.05%; Pin Bar Pattern Appearing on Chart

The Hourly View for PFE

Last Updated January 29, 2021, 12:38 GMT

Currently, PFE’s price is down $-0.23 (-0.64%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as PFE has now gone down 4 of the past 5 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on PFE. Given that we see downtrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Pfizer Inc Daily Price Recap

Pfizer Inc is down 1.05% ($0.38) since yesterday, marking the 2nd straight day a decrease has occurred. The price move occurred on volume that was down 21.93% from the day prior, but up 18.07% from the same day the week before. Let’s take a look at the daily price chart of Pfizer Inc.

PFE

Pfizer Inc Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 6 out of the past 10 days. As for those who trade off of candlesticks, we should note that we’re seeing pin bar pattern appearing here.

Overheard Around the Web

Here’s what one trader on StockTwits recently had to say in regards to PFE:

    $MRNA $NVAX people claiming that there are real numbers on efficacy. Let me remind you that these supposed “real” numbers are NOT PEER-REVIEWED yet (not real) and were only submitted in the U.K. on a limited basis. Do you also recall that people made claims about the efficacy of Hydroxychloroquine as well and when the PEER REVIEWS started coming out, that they disproved those claims of efficacy too? Or how about the Sinopharm vaccine and how the UAE claimed it had 79% efficacy and recently Brazil reanalyzed it and said it only produces around 50.38% efficacy… point is that you shouldn’t get your hopes up about Novavax just yet. $PFE $BNTX.

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