Pfizer's stock is weak, and this must be clearly stated. YTD, the stock is down 12.6%. Is there now a chance of a trend reversal?
The answer is that there is at least a chance of stabilization. There is a cross-support zone in the range of USD 23.50 - 24. Our main scenario envisages a retest of this zone and assumes that the stock can recover from here to the USD 27 range.
However, if this zone is breached sustainably, further sell-offs to the USD 20 range are possible.
In the medium term, the bulls can only hope for a new rally above USD 28.
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