Pfizer Crosses Below its 10-day MA (PFE)
Today, shares of Pfizer (NYSE:PFE) have crossed bearishly below their 10-day moving average of $34.94 on a volume of 6.7 million shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
Over the past year, Pfizer has traded in a range of $28.25 to $36.46 and is now at $34.79, 23% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.9% while the 200-day MA has remained constant.
SmarTrend recommended that subscribers consider buying shares of Pfizer on April 5th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $31.17. Since that recommendation, shares of Pfizer have risen 13.2%. We continue to monitor PFE for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses Pfizer