Economies.com provides the latest technical analysis and forecast of the american stocks, in order to keep track of the trend of the US stocks.
Pfizer's stock (PFE) fell in the intraday levels, recording a new loss of 0.85% in the last session, or 0.28 points, while piercing the support of 32.82, representing the ratio 50% of Fibonacci retracement levels for an ascending wave in the medium term (from 28.25 to 37.39), with negative pressure from the 50-day SMA, coupled with negative signals from relative power indicators.
Therefore we expect more losses for the stock, as long as it settles below 32.82, targeting the next support of 31.74, which represents the ratio 61.8% of the same retracement levels.