• Return to Headlines

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

By Nick Russo

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. Yesterday's price range of $37.82 and $38.04 is within the prior day'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 share prices have moved between a 52-week high of $44.56 and a 52-week low of $33.97 and closed yesterday at 13% above that low price at $38.28 per share. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has remained constant.

There is potential upside of 3.7% for shares of Pfizer Inc based on a current price of $38.28 and an average consensus analyst price target of $39.71. The stock should find initial resistance at its 50-day moving average (MA) of $38.90 and further resistance at its 200-day MA of $39.02.

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.

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 am inside day candle pfizer inc

Ticker(s): PFE