The stock has also found support at its long-term 200-DEMA of Rs 2580 and bounced back and has reversed from the 61.8 percent retracement zone of Rs 2508, says Hadrien Mendonca of IIFL.
Moneycontrol Contributor
@moneycontrolcom
Hadrien Mendonca
Pfizer has been under pressure since hitting its all-time high of 3847 on August 28, 2018. However, for the first time, the stock has managed to stage a solid come back which has aided Pfizer to break out from a falling channel pattern on the daily chart.
The stock has also found support at its long-term 200-DEMA of Rs 2580 and bounced back. It has also reversed from the 61.8 percent retracement zone of Rs 2508 which further accentuates our bullish stance on the stock.
First Published on Oct 12, 2018 11:05 am
