Pfizer (PFE) has become wildly oversold at its 50-day moving average.
In addition, it’s become oversold on RSI, MACD, and Williams’ %R, which tells us the stock could begin to pivot higher. With the virus still making its rounds, and PFE’s announcement that “Phase 2/3 trial showing a favorable safety profile and robust neutralizing antibody responses in children 5 to 11 years of age using a two-dose regimen of 10 µg administered 21 days apart, a smaller dose than the 30 µg dose used for people 12 and older,” the PFE stock could move.
In addition, just yesterday, a US FDA panel voted in favor of recommending the PFE booster for people aged 65 and older, and for those considered high risk.
With patience, PFE could retest its prior high around $51.