Pfizer stock has created a new imbalance on the monthly timeframe, around $44 per share. We are waiting for a pullback to that price level to trade Pfizer stock again.
Pfizer Inc. (NYSE: PFE) is a well-known American multinational pharmaceutical corporation. It was the first pharmaceutical company to have developed a vaccine for COVID-19. Pfizer is one of the world’s largest pharmaceutical companies and was ranked 64th on the 2020 Fortune 500 list.
Take a look at Pfizer’s stock price analysis below. See how the monthly imbalance created around $44 per share. This seems like a great stock trading opportunity right now. The monthly timeframe is in a clear uptrend. COVID-19 vaccines are being sold like peanuts, and Pfizer is making billions.
As supply and demand traders, we do not need to pay attention to the news or fundamental analysis. Once a big timeframe imbalance has gained control, earnings do just the opposite and react strongly to those imbalances. Why do you see positive earnings, the underlying stock drops like a rock or a negative earnings announcement, and the stock rallies like a rocket out of control? You are probably missing the fact that there are big imbalances in gaining control.
Unless you are doing very short-term trading and scalping, you should not worry about fundamentals or earnings announcements on Pfizer stock.
Trading is just waiting for the right trigger points and scenarios to present themselves, this game has a name, and it’s called the waiting game. We need to patiently wait for the correct scenarios and setups to happen and wait for the price to pull back or dip into the price levels we want to trade. These price levels are made of supply and demand imbalances in our case. You can use these imbalances to plan your trades in lower timeframes.
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