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Possible Bearish Inside Day Candle Pattern Detected for Pfizer Inc (NYSE:PFE)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Pfizer Inc (NYSE:PFE) based on the price action in the company's shares. Today's price range of $37.82 and $38.04 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Pfizer Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Pfizer Inc. operates as a pharmaceutical company. The Company offers medicines, vaccines, medical devices, and consumer healthcare products for oncology, inflammation, cardiovascular, and other therapeutic areas. Pfizer serves customers worldwide.

Pfizer Inc (NYSE:PFE) has potential upside of 4.4% based on a current price of $38.03 and analysts' consensus price target of $39.71. Pfizer Inc shares should first meet resistance at the 50-day moving average (MA) of $38.90 and find additional resistance at the 200-day MA of $39.03.

Over the past year, Pfizer Inc has traded in a range of $33.97 to $44.56 and is now at $38.03, 12% above that low. The 200-day and 50-day moving averages have moved 0.09% lower and 0.05% higher over the past week, respectively.

SmarTrend is tracking the current trend status for Pfizer Inc and will alert subscribers who have PFE in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle pfizer inc

Ticker(s): PFE