Pfizer Inc (PFE) Makes Big Move Relative to Two Week Trend, Moves Up For the 2nd Day In A Row; Crosses 20 and 200 Day Moving Averages

The Hourly View for PFE

Last Updated January 26, 2021, 12:41 GMT

At the moment, PFE’s price is up $0.07 (0.19%) from the hour prior. This is the 2nd hour in a row PFE has seen its price head up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on PFE. Given that we see an uptrend 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 came into today up 2% ($0.73) from the open of the previous day, marking the 2nd day in a row an increase has occurred. The price move occurred on stronger volume; specifically, yesterday’s volume was up 20.74% from the day prior, and up 2.33% from the same day the week before. The daily price chart of Pfizer Inc below illustrates.

PFE

Pfizer Inc Technical Analysis

Moving average crossovers are always interesting, so let’s start there: Pfizer Inc crossed above its 20 and 200 day moving averages yesterday. Volatility for Pfizer Inc has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. 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. Or to view things another way, note that out of the past 10 days Pfizer Inc’s price has gone down 6 them.

Overheard Around the Web

Over on StockTwits, here’s an example of what they’re saying about PFE:

    $PFE $MYOV
    Myovant Sciences (NYSE: MYOV) and Pfizer Inc. (NYSE: PFE) today announced that the Phase 3 SPIRIT long-term extension study of the investigational once-daily relugolix combination therapy (relugolix 40 mg plus estradiol 1.0 mg and norethindrone acetate 0.5 mg) in women with endometriosis reported clinically meaningful reductions in dysmenorrhea (menstrual pain) and non-menstrual pelvic pain over one year (52 weeks) with minimal and stable bone mineral density loss. The data are consistent with the efficacy and safety profile observed through 24 weeks in the Phase 3 SPIRIT 1 and SPIRIT 2 studies. These results will be included in the New Drug Application to the U.S. Food and Drug Administration for relugolix combination tablet for the treatment of women with endometriosis, anticipated to be submitted in the first half of 2021
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