Pfizer has been consolidating for a couple of years and has now finally given a breakout with Cup & Handle pattern.
Cup & handle pattern is a highly trusted pattern for its bullishness.
Not to mention Pfizer is a strong company and should be part of everyone's portfolio.
CMP: 4240
Breakout level: 4150
SL 3980
Target: 4600 / 4780
Disclaimer: I'm not a...
Beautiful spot from where stock ready to go down to upside now reversal clearly visible with all indicator positive one can study like this stock nicely
The Monthly RSI has bounced from its Oversold zone 43-35.
The Monthly MACD has crossed above its Trigger line.
This suggests that prices have formed a base the low of 3408.
Past up-moves suggest that the price could now resume its up-move to initially test its prior all time high of 6175.
On an optimistic basis, it could also touch 7880 (161.8% FR level).
Trendline support and good fundamental stock.
At Pfizer, we apply science and our global resources to bring therapies to people that extend and significantly improve their lives. We strive to set the standard for quality, safety, and value in the discovery, development, and manufacture of health care products.
pattern shows trendline breakout along with positive signals from other indicators.
Buy under 3900
Target : 4300
If trading for short term, SL: 3750
If trading for long term, SL: 3450
Bullish head & shoulder pattern
Bullish for long term
Target mentioned in the chart
Available at good price
Good stock
Good volume
Breakout confirmation happen
In this week the pharma sector witnessed a rally. Pfizer has still not witnessed a rally and technically it has started higher lows with a attempt to break the trendline. Any closing above 4050 will lead the stock towards 4400 and 4800 levels.
In the Weekly Chart of PFIZER ,
we can see that, it might give Cup & Handle Pattern breakout.
Let it Breakout & retest then only Enter with SL and target.
