Pfizer at resistance. We look to Sell at 54.62 (stop at 56.31)
Short Term - We look to Sell at 54.62 (stop at 56.31)
Bespoke resistance is located at 54.70. A move higher faces tough resistance and we remain cautious on upside potential. Selling spikes offers good risk/reward. Further downside is expected although we prefer to sell into rallies close to the 54.60 level. Trading has been mixed and volatile.
Our profit targets will be 49.84 and 46.85
Resistance: 54.70 / 56.32 / 61.71
Support: 50.00 / 47.50 / 40.94
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