PFE was a recently posted short setup that bounced off the first significant support level shortly after breaking down from this bearish rising wedge pattern and is now offering an objective new short entry or add-on to an existing position as makes a back-test of the wedge from below. T2 is my preferred swing target on this trade which offers an excellent R/R with a short entry here and a stop slightly above the overhead resistance level at 25.00. To avoid getting caught in a stop-raid, best to set you stop somewhat above that level, around the 25.25 area. Original daily [...]
PFE is one of the large pharmaceutical companies mentioned as a potential trade last night. A short entry would be triggered on a break below the rising wedge pattern. As the first key support level (and likely reaction point) is currently not far below the wedge, I have labeled it as S1 (support). However, that level could also act as an initial target depending on the price level if/when an entry is triggered.
I've put together a comprehensive video analysis of the S&P 500 index including technical overviews on 22 of the largest components of the sector, similar to my recent $NDX/QQQ top 10 holdings video. I do have to warn you that at 39 minutes, this is my longest video yet. Therefore, this is my gift for you insomniacs, masochists and those who are gluttons for punishment. All kidding aside though, if you don't want to sit through the entire video you can skip to the sections that you might be interested in. The video starts with an overview of the $SPX beginning [...]