Pfizer Limited (PFIZER) Stock - Complete Technical Analysis - Nov 08, 2024

Pfizer Stock Technical Analysis: Bearish Signs and Key Support Levels PFIZER Stock Breakdown

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 (PFIZER) current price of 5286.85 reflects a 18.05% drop from its 52-week high, suggesting the stock has seen some retracement from its peak. The 52-week low was at 3850, meaning the stock is trading significantly higher than that, making it relatively stronger in comparison. The stock's technical indicators show caution as the Average Directional Index (ADX) is at 26.37, signaling a moderately strong trend, but the Relative Strength Index (RSI) at 41.89 is neutral, suggesting no extreme buying or selling pressure.

However, the bearish signals are notable, with the MACD at -114.91 confirming a downtrend. The Stochastic RSI at 86.36 indicates the stock is in overbought territory, which could be an early warning of a reversal or correction. Adding to this, bearish reversal candlestick patterns like the Bearish Engulfing and Evening Star provide further evidence of potential downward movement in the stock. As the stock has been facing resistance around 5385, a failure to break above these levels could signal further weakness.

The stock has strong support levels near 5000 and 4760, and a drop below these levels could see the stock testing lower levels, potentially towards the 4422 region. Resistance levels lie near the 5400 and 5727 areas, and breaking through these levels could indicate a potential recovery or trend reversal. Traders should be cautious of short-term volatility, as the stock has been moving significantly between 5264 and 5385, indicating possible price swings. With an Average True Range (ATR) close to 800, volatility remains a key concern.

To summarize, while Pfizer is trading above its 52-week low, the current technical indicators and patterns suggest caution. Investors should be vigilant and monitor price action closely around the support and resistance levels, especially given the volatility and potential for further downside if the support fails to hold.