Pfizer Trend May Be Changing as Price Just Breached Above Its 200 Day Moving Average

The Daily View for Pfizer

  • At the time of this writing, PFE’s price is down $-0.11 (-0.3%) from the day prior.
  • This is the 2nd day in a row Pfizer has seen its price head down.
  • From a daily perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 day timeframes.
  • Price action traders may also wish to note that we see a doji candlestick pattern on Pfizer. Given that we see downtrend on the 10 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • Most noteworthy in the world of moving averages on the daily chart is that the 50 day moving average has been crossed, so that price is now turning above it. The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Pfizer’s hourly price chart is shown below.

PFE

The Daily View for Pfizer

  • At the moment, PFE’s price is down $-0.49 (-1.34%) from the day prior.
  • It’s been a feast for bulls operating on the daily timeframe, as Pfizer has now gone up 4 of the past 5 days.
  • Regarding the trend, note that the strongest trend exists on the 100 day timeframe.
  • Regarding moving averages, it should first be noted that price has crossed the 100 and 200 day moving averages, resulting in them with price now being below them. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Below is a daily price chart of Pfizer.

PFE