Aug. 19 at 5:07 PM
$PFE $XPH
Pfizer (PFE) - Weekly Chart
PFE appears to be transitioning from a prolonged basing process into a trend-repair phase. Following a successful defense of the major
$20 -
$21 support zone and the development of a multi-year rounding-bottom structure, price has reclaimed the former
$20 -
$25 resistance band while momentum has improved materially. Weekly absolute RSI has crossed above its trend measure and moved into a bullish regime, though the trend momentum measure remains just below the 50 threshold, indicating that the longer term momentum structure is still in the process of improving. Taken together, the evidence supports an improving technical outlook, with further gains in trend momentum and continued price acceptance above the former base strengthening the case for a more durable bullish trend.