Trading Analysis of Pfizer

Trading Analysis of Pfizer

Written by: PaxForex analytics dept - Monday, 27 July 2020 0 comments

Source: PaxForex Premium Analytics Portal, Technical Insight

Pfizer reported early positive results for a potential coronavirus vaccine that it is studying in partnership with BioNTech in a Phase 1/2 trial in Germany. Pfizer is working with BioNTech on four potential vaccines through a program called BNT162, which includes one of the most advanced candidates, BNT162b1.

Pfizer, H4

Pivot: 37.25

Analysis:

Provided that the asset is traded above 36.95, follow the recommendations below:

  • Time frame: H4
  • Recommendation: long position
  • Entry point: 37.25
  • Take Profit 1:  38.45
  • Take Profit 2: 39.30

Alternative scenario: 

In case of breakdown of the level 36.95, follow the recommendations below:

  • Time frame: H4
  • Recommendation: short position
  • Entry point: 36.95
  • Take Profit 1: 36.30
  • Take Profit 2: 35.25

Comment:

RSI shows an uptrend during the day.

Key levels:

Resistance     Support
41.10 36.95
39.30 36.30
38.45 35.25

Pfizer, D1

Pivot: 37.66

Analysis:

While the asset is traded above 36.10, follow the recommendations below:

  • Time frame: D1
  • Recommendation: long position
  • Entry point: 37.66
  • Take Profit 1: 40.10
  • Take Profit 2: 41.10

Alternative scenario:

If the level 36.10 is broken-down, follow the recommendations below.

  • Time frame: D1
  • Recommendation: short position
  • Entry point: 36.10
  • Take Profit 1: 34.50
  • Take Profit 2: 33.50

Comment:

RSI is above its neutral area by 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the stocks are trading above the 20-day and 50-day moving average (by 35.05 and 35.38 respectively).

Key levels:

Resistance     Support
43.10 36.10
42.10 34.50
41.10 33.50

We also advise you to pay attention to Apple for intraday trading:

Pivot: 373.95

Analysis:

While the asset is traded above 368.00, follow the recommendations below:

  • Time frame: H4
  • Recommendation: long position
  • Entry point: 373.95
  • Take Profit 1: 400.00
  • Take Profit 2: 420.00

Alternative scenario:

If the level 368.00 is broken-down, follow the recommendations below.

  • Time frame: H4
  • Recommendation: short position
  • Entry point: 368.00
  • Take Profit 1: 350.00
  • Take Profit 2: 332.00