Pfizer ends higher - Analysis - 26-05-2017

Pfizer's stock (PFE) rose in the intraday levels, scoring a profit of 0.34% in the last session, or 0.11 points, amid positive signals from relative power indicators, countered by negative pressure from the 50-day SMA, as the stock settles below the resistance of 32.82, representing the ratio 50% of Fibonacci retracement levels for an ascending wave in the short term (from 28.25 to 37.39). 

Therefore we expect the stock to return lower, as long as the resistance of 32.82 holds on, targeting the support of 31.74, which represents the ratio 61.8% of the same retracement levels.