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

Pfizer Limited (PFIZER) Stock Technical Analysis: Key Support & Resistance Levels for Dec 2024

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 (PFIZER) is currently priced at 5,024, which is significantly lower than its 52-week high of 6,451, but it is still above its 52-week low of 3,950. Looking at recent price action, PFIZER has been in a short-term downtrend, with the stock closing lower at 5,024 after an opening at 5,083. This decline suggests some bearish pressure, but the price is still within a trading range, and there is a possibility of a reversal.

The Average Directional Index (ADX) reading of 17.07 shows a weak trend, meaning there isn't a strong directional bias in the stock. However, the RSI at 32.61 indicates that the stock is nearing oversold territory, signaling a potential bounce. In addition, the MACD at -72.75 confirms the ongoing bearish momentum, and the momentum indicator, which is also negative, suggests that the downside pressure is still present.

The support levels for PFIZER are around 4,900 to 4,850, while the resistance levels are near 5,100 and 5,200. A breakout above these resistance levels could signal a potential rally toward 5,500. However, if the stock fails to hold at support, it might test lower levels, especially if bearish momentum continues.

Indicators like the Stochastic RSI and Williams Percent Range suggest that the stock may be oversold and could be primed for a short-term bounce. Meanwhile, the CCI and Awesome Oscillator suggest a weakening downtrend, though a sustained reversal will depend on the stock holding at key support levels.

Overall, traders should watch PFIZER closely for any signs of price stabilization or a rebound from the oversold conditions. If the stock shows strength at support levels, it could provide an opportunity for a short-term rally. However, any sustained weakness could see the stock testing new lows. Keep an eye on price action and confirmatory indicators like MACD and RSI for clearer direction.