I made a personal TA on NYSE:PFE using FIB retracements to define when to buy the current pullback reversal.
PFE is currently in a very clear uptrend an its previous pullbacks "reversed" at aroung 50%-61.8% FIB so i think that this current pullback is going to reverse at around 50%.
Before buying:
Check Rsi bounceoff and SMA positionning to form a support
Check if EMA's are likely to cross (strong uptrend)
Dont wait to buy at exactly 50% fib level, price may reverse earlier and you miss the dip/opportunity, or you miss a lower dip at around 61.8%
If price drops further down, may be a sign of a trend reversal !
!! This is not investing advice, you shouldn't (At all) follow my buy setup, this is a personal TA which may differ from yours.
@f3982, Hi, thanks for your comment. I think that it would rather be considered as a retracement/pullback and not a head and shoulder as it may look like to form, but the pullback now reversed and the price is now going to form an uptrend and bull till it passes the last ath. But, it may also not be a retracement, but a second shoulder, we need more confirmation to consider that.