$PFE - Are we there yet?

PFE On August 13th, I stated that closing above $37 is critical to indicate the start of a bullish trend. It went up to the $37 area but retreated and is now following a bearish scenario, having reached the $34 downside risk target.

So, what's next?

If it can close above $35 with significant volume, it could signify the beginning of stabilization.

If it breaks below $34, the next stop is $32, which is likely where the ultimate bottom will be formed.

Why? The last time when PFE traded around $33 the stock had an epic run.

Is such a vicious sell-off warranted? Probably not. However, the market can remain irrational for longer than we can endure.

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