What about Pfizer? Is PFE worth to buy?
Fiorente 2 Stock Update: #2 2023 - A Gann analysis in three easy steps
Introduction
Good morning to all new subscribers!
This is an update on Pfizer, PFE. Is Pfizer1 worth buying?
In this post, I will show you how I usually analyze a chart using some simple Gann timing techniques.
A lot of news has been released in the past few days on PFE. Recently Reuters reported on Jan. 13 that the FDA reported that a link to a type of brain stroke in older adults has been seen just after using PFE’s COVID-vaccine injections, although no definite conclusions can be made yet. You can read the article here (click).
Some analysts have downgraded the stock on this or other related COVID news. The sales may not be that good going forward. This news may give some pressure on this stock going forward, but I usually do not follow or react to the news. So many other variables and anomalies can occur. The fundamental results are good to watch. I like to look at the price charts on the theory that all news is already known and to be seen in the charts.
I was an owner of the stock during the COVID period but I sold-out end of November 2021, less than 1 month before the stock was close to a square out in Price and time(December 2021). I take profits sooner than later. Since then, the stock has been declining as you can see in the below chart.
This is a weekly chart, and from the low of 2009 to the high in 2021, 666 weeks have passed. 666 weeks is a natural cycle that is often called “The cycle of the beast”. Others say that the number 666 relates to mankind and has not that “devilish” connotation. The 2015 and 2016 intermediate lows were important and probably a 7-year low. The base of the move from 2016 to the COVID low, became the height of the move to the 2021 crest. This is the basis of a square out. The cycle shows that the radius of the basis has become the height.
Where will the trend here after go? The end of the circle is where the cycle is heading to, in principle. But I like to look at the harmonics of the 666-week, like 666 months, days, hours, minutes, or parts of it. We are currently close to 66/67 weeks which is 1/10 of this cycle. This would fit a March-Early April 2023 low. This may be too early looking at other aspects.
Our premium readers can read on from here what possible price and time objectives may be in play, in three extra charts.
Disclaimer: This post is for educational and informational purposes only. Hypothetical or simulated performance based on past cycles has many limitations. Cycles can contract, extend and invert. Anomalies can occur. Hence, past performance is no guarantee for the future. No advice. Read our full disclaimer.