Bullish Continuation Setup in Pfizer Ltd

27 авг.

This daily chart of Pfizer Ltd. shows a bullish continuation pattern with Fibonacci extension levels highlighting potential upside targets. The Fibonacci retracement is drawn from the recent swing low at ₹5,754.70 to the swing high at ₹6,338.25, with the price currently above the key retracement zone, suggesting a possible resumption of the uptrend.

The next significant targets based on the Fibonacci extensions are ₹6,698.95 (1.618 extension) and ₹7,282.50 (2.618 extension). These levels represent potential resistance zones where traders may consider taking profits.

Key Levels:

Support: ₹5,754.70 (Fibonacci 0.0 retracement)
Resistance: ₹6,338.25 (Fibonacci 1.0 retracement)
Potential Targets: ₹6,698.95 (1.618 Fibonacci extension), ₹7,282.50 (2.618 Fibonacci extension)
Analysis: The price action is showing bullish momentum as it approaches the 1.618 Fibonacci extension level. A sustained move above ₹6,338.25 could lead to further gains, targeting the next extension levels. Traders should monitor volume and price action around these key resistance levels to gauge the strength of the move.