Today’s instrument is Pfizer Inc.’s stock traded in the NYSE exchange under the ticker PFE. 

When we look at the PFE‘s chart, we can it was trading in a channel between support of $52.3 and resistance of $54 for the past week, with no notable moves with the sole exception of the retraction during yesterday’s session, falling from the $53 and reaching as low as $50 but rebounding at the close.

Pfizer Inc. had scheduled a quarterly earnings announcement yesterday 08/02/2022, where they reported higher than expected EPS but missed by 320 million their Revenue forecast, which caused the drop at $50. It was last found trading at $51.67 with the closest overhead resistance of $52 and the closest support level at $50.

Today we can expect a move towards $52 resistance climbing back at the $53.5 range. 

If however, it doesn’t manage to hold on to the current level then a move towards and below the $50 support can be expected.

(Click on image to enlarge)