Bullish Continuation Setup in Pfizer Ltd
This daily chart of Pfizer Ltd. shows a bullish continuation pattern with Fibonacci extension levels highlighting potential upside targets. The Fibonacci retracement is drawn from the recent swing low at ₹5,754.70 to the swing high at ₹6,338.25, with the price currently above the key retracement zone, suggesting a possible resumption of the uptrend.
The next significant targets based on the Fibonacci extensions are ₹6,698.95 (1.618 extension) and ₹7,282.50 (2.618 extension). These levels represent potential resistance zones where traders may consider taking profits.
Key Levels:
Support: ₹5,754.70 (Fibonacci 0.0 retracement)
Resistance: ₹6,338.25 (Fibonacci 1.0 retracement)
Potential Targets: ₹6,698.95 (1.618 Fibonacci extension), ₹7,282.50 (2.618 Fibonacci extension)
Analysis: The price action is showing bullish momentum as it approaches the 1.618 Fibonacci extension level. A sustained move above ₹6,338.25 could lead to further gains, targeting the next extension levels. Traders should monitor volume and price action around these key resistance levels to gauge the strength of the move.
The next significant targets based on the Fibonacci extensions are ₹6,698.95 (1.618 extension) and ₹7,282.50 (2.618 extension). These levels represent potential resistance zones where traders may consider taking profits.
Key Levels:
Support: ₹5,754.70 (Fibonacci 0.0 retracement)
Resistance: ₹6,338.25 (Fibonacci 1.0 retracement)
Potential Targets: ₹6,698.95 (1.618 Fibonacci extension), ₹7,282.50 (2.618 Fibonacci extension)
Analysis: The price action is showing bullish momentum as it approaches the 1.618 Fibonacci extension level. A sustained move above ₹6,338.25 could lead to further gains, targeting the next extension levels. Traders should monitor volume and price action around these key resistance levels to gauge the strength of the move.
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