Pfizer gains ground - Analysis - 23-08-2017

Pfizer's stock (PFE) advanced in the intraday levels, scoring a profit of 0.15% in the last session, or 0.06 points, amid negative pressure from the 50-day SMA, while settling above 32.82, a level that represents the ratio 50% of Fibonacci retracement levels for an ascending wave in the medium term (from 28.25 to 37.39). 

Therefore we expect the stock to return lower, especially if it settled back below 32.82, targeting the next support at 31.74, which represents the ratio 61.8% of the same retracement levels.