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ThecoinrepublicMarketWill Pfizer Share Price (NYSE: PFE) Sustain...
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Will Pfizer Share Price (NYSE: PFE) Sustain above $50? – Quarterly Growth Shines by 15%

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  • Pfizer Share price has showcased some promising trading factors as it crossed 16% growth rate during this quarter.
  • Pfizer Inc. (NYSE: PFE) is up 41% in the last five years, also slightly above the market returns.
  • On the contrary, PFE stock has slipped around 12.41% year to date.

Pfizer share price went through some interesting patterns over the daily time frame chart. Pfizer has been a good investment since the Covid outbreak all around the globe as it’s one of the greatest manufacturers of pharmaceutical and biotechnological assets. 

PFE stock price at first went into a V shaped recovery pattern as from August 2022 it started falling over the daily time frame chart and then fell till $41 finally got support in October 2022. Surged with some great spikes through October, November and December 2022 closing the year with some significant recovery over the daily time frame chart. 

In the meantime, Pfizer share price grown above 20, 50, 100 and 200-days Daily Moving Average. However, by the beginning of January 2023, Pfizer stock price lost its accumulation rate and is still faltering to gather support after losing the accumulation. 

Pfizer Stock Price
Source: TradingView

Pfizer share price has grown dramatically over the daily time frame chart and got distributed from the distribution phase marked at $55. PFE stock price is currently trying to reverse the trend as it got distributed from $55 and is now trying to sustain above $50 over the daily time frame chart. 

Pfizer stock price is trying to sustain at 20-EMA and is trading above 50, 100 and 200-days Daily Moving Average. However, volume change is below average and needs to grow for PFE to surge back towards the distribution phase. 

Pfizer Share Price: Exclusive Technical Analysis

Pfizer Stock Price
Source: TradingView

Technical indicators suggest that Pfizer share price is slipping over the daily time frame chart. Relative Strength Index showcases the downtrend momentum of PFE stock. RSI is at 53 and is trying to sustain above neutrality. MACD exhibits the downtrend momentum of PFE stock price. The MACD line is below the signal line after a negative crossover. Investors in Pfizer Inc. (NYSE: PFE) needs to wait until the stock price sustains above $50.

Summary 

Pfizer share price went through some interesting patterns over the daily time frame chart. PFE stock price at first went into a V shaped recovery pattern as from August 2022 it started falling over the daily time frame chart and then fell till $41 finally got support in October 2022. Pfizer share price has grown dramatically over the daily time frame chart and got distributed from the distribution phase marked at $55. Technical indicators suggest that Pfizer share price is slipping over the daily time frame chart. Investors in Pfizer Inc. (NYSE: PFE) needs to wait until the stock price sustains above $50.

Technical Levels

Support Levels: $50.00 and $47.60

Resistance Levels: $52.00 and $55.00

Disclaimer

The contents of this page are intended for general informational purposes and do not constitute financial, investment, or any other form of advice. Investing in or trading crypto assets carries the risk of financial loss. The forecasted data (also called “price prediction”) on this page are subject to change without notice and are not guaranteed to be accurate.

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Andrew Smith
Andrew Smith
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
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