Pfizer Inc. (PFE) with Several short-term signals are positive, despite the stock being in a falling trend

Pfizer Inc. (PFE) with Several short-term signals are positive, despite the stock being in a falling trend

Today, Pfizer Inc. (PFE) started its trading session with the price $35.93 and reached at price of $35.75 by scoring -0.5%. Day range of the stock is $35.56 – $36.02. PFE stock traded with total volume of 8263687 shares while the average trading capacity remained 20789118 shares.  Earnings per share was $1.73. PFE has total market capitalization of $197735001750.

PFE Forecast and Technical Stock Analysis Report on Monday, 30th Sep 2019

Buy candidate since 2019-09-30

Pfizer Inc fell by -0.80% in the last day ( Monday, 30th Sep 2019 ) from $36.22 to $35.93 During the day the stock fluctuated 1.09% from a day low at $35.92 to a day high of $36.31. The price has fallen in 7 of the last 10 days and is down by -2.44% for this period. Volume fell in the last day along with the stock, which is actually a good sign as volume should follow the stock. In the last day the trading volume fell by -0.51 million shares and in total 16.08 million shares bought and sold for approximately $577.72 million.

Quick summary:

30 day high of the PFE stock price was $37.76 and low was $35.51.

90 day high was $44.56 and low was $33.97.

52 week high for Pfizer Inc – $46.47 and low – $33.97.

Trend

Pfizer Inc lies the upper part of a wide and falling trend in the short term, and this will normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $36.50 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -20.19% during the next 3 months and, with 90% probability hold a price between $23.59 and $29.13 at the end of this period.

Signals

Pfizer Inc holds a sales signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $36.11. On a fall, the stock will find some support from the long-term average at approximately $35.80. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sales signal. A buy signal was issued from a pivot bottom point on Thursday September 26, 2019, which indicates further gains until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Relative Strength Index (RSI)

RSImin/max Values: [ 25 – 75 ]

RSI14 is 26 and the stock is currently not being overbought or oversold

Support & Resistance

Pfizer Inc finds support from accumulated volume at $35.52.

Support: $35.52  Price: $35.93  Resistance: $38.79

Risk

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.39 (1.09%) between high and low. For the last week, the stock has had daily average volatility of 1.64%.

Our recommended stop-loss: $33.59 (-6.50%) (This stock has low daily movements and this gives low risk. There is a buy signal from pivot bottom found 2 days ago.)

Average volatility 1.64 %

Overall risk: Low

Evaluation

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for this stock to perform well in the short-term. We have upgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Buy Candidate.

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