Pfizer Limited (PFIZER) Stock - Complete Technical Analysis - Oct 16, 2024

Pfizer Stock Analysis: Key Support & Resistance Levels to Watch

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions.

Pfizer Limited's stock is currently trading at 5,688.95, showing resilience as it sits 11.81% below its 52-week high of 6,451.15 reached on September 2, 2024, and is 48.23% above its 52-week low of 3,838.0 from October 25, 2023. The recent price action indicates a bearish trend, particularly following the opening price of 5,800.40 today, which highlights a sudden drop to 5,650.00, signaling potential volatility.

Analyzing key technical indicators, the MACD is below zero, suggesting bearish momentum. The RSI is at 48.21, which indicates neutral momentum, implying that traders should be cautious as the stock navigates through this range. The ADX reading of 23.44 indicates a weak trend, with the price fluctuating without a clear direction.

Price trends show a gradual decline from recent highs, with last week's trading exhibiting significant volatility, especially a surge to 5,933.90 on October 16 before closing lower. This pattern indicates the presence of short-term sellers, which could lead to further downward pressure. However, support levels can be identified near 5,650 and 5,500, while resistance is seen around 5,800 and 6,000.

The moving averages reveal mixed signals; the short-term averages are higher than the long-term ones, suggesting a potential crossover if the current trend continues. Additionally, the stock is showing gaps in price, with the recent swing highs acting as crucial resistance levels.

In summary, Pfizer Limited is in a consolidation phase, marked by volatility and recent price fluctuations. Traders should watch for further developments and consider the support and resistance levels when making trading decisions.