PFE is all over the news – not that I care about that BUT the sentiment towards this stock is getting worse … additionally the “big target” was hit up at the monthly level so this stock “should” have a major top in place. (of course, should is the operative word)
down on the 60 minute chart am waiting for a SELL PATTERN to appear but for now, its no mans land.
not sure I’ll be looking to be LONG PFE until another big leg down occurs.
Look to short for now … on my watch list.
49-50 seems reasonable for a short attempt – would like to get a projection up there but can see this offering strong resistance – for now.
August 04, 2021
above is one of my first forays into Harmonic Pattern Recognition … it’s PFE way way down in the low teens. believe I was looking for 13-14 as the low. anyway, when looking at PFE today it reminded me of that chart …
anyway, based on this vaccine stuff and a boat load of cash, looks like PFE is off to the races. some nice resistance above on the weekly and then a “final” target at a double AB=CD and 1.27 extension. that should stop it or at least provide some stiff resistance.