Pfizer keeps falling - Analysis - 19-05-2017

Pfizer's stock (PFE) fell in the intraday levels, recording a loss of 0.03% in the last session, or 0.01 points, and piercing a negative pattern's support in the short term, the Rising Wedge pattern, while settling 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), with negative pressure from the 50-day SMA. 

Therefore we expect more losses for the stock, targeting the support of 31.74, which represents the ratio 61.8% of the same retracement levels.