Pfizer tries to recover some losses - Analysis - 09-08-2019

Pfizer's stock rose in the intraday levels while recouping some past losses and venting off oversold saturation in the RSI, while settling below the resistance of 37.67, representing the ratio 61.8% of Fibonacci retracement levels for an ascending wave in the long term (from 32.28 to 46.41), while trading below the 50-day SMA. 

Therefore we expect the stock to decline as long as the resistance of 37.67 holds on, targeting the next support at 35.65, which represents the ratio 76.4% of the same retracement levels. 

Expected trend for today: Bearish