The recovery for Pfizer Inc (US: PFE) in Mid-August seems to be a bearish corrective action based on the technicals. Wave analysis also suggests that the stock may resume its bearish sentiment soon.
*Timeline of the technical call for PFE is between 1-3 weeks.
*Should price breaks beyond the 50% level for 2 consecutive periods, there will be a possibility of a renewed bullish action ahead.
Relative Strength Index
Period = 14
Red line = Overbought line at 60
Green line = Oversold line at 40
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