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

By Amy Schwartz

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 $41.93 and $41.93 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. is a research-based, global pharmaceutical company that discovers, develops, manufactures, and markets healthcare products worldwide. The Company's products include medicines, vaccines, medical devices, and consumer healthcare products.

Over the past year, Pfizer Inc has traded in a range of $35.32 to $46.47 and is now at $41.93, 19% above that low. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has remained constant.

Based on a current price of $41.93, Pfizer Inc is currently 5.3% above its average consensus analyst price target of $39.71. Pfizer Inc shares should encounter resistance at the 200-day moving average (MA) of $42.52 and support at the 50-day MA of $41.44.

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