What's Next After Pfizer Stock Powers Higher Tuesday?

Pfizer Inc. PFE shares are trading higher Tuesday alongside other vaccine stocks.

Vaccine stocks have seen increased retail interest of late as the COVID-19 delta variant spreads.  

Pfizer Daily Chart Analysis

• The stock recently broke above a level that previously held as support and has since been flying higher.
• The stock trades above both the 50-day moving average (green), and the 200-day moving average (blue), indicating recent sentiment in the stock has been bullish.
• Each of these moving averages may hold as an area of support.
• The $43 price level acted as resistance in the past multiple times as the stock struggled to cross above it. Now above the level, the stock may find support near this level.
• The Relative Strength Index (RSI) has been pushing higher and now sits at the 84 level. This is well into the overbought area, meaning the stock has seen much more buying pressure than selling pressure.

What’s Next For Pfizer?

Bullish traders are looking to see the stock gain ground. Eventually the stock will cool off and bulls will want the stock to consolidate for a time before further moves may occur.

Bearish traders would like to see the stock stop moving higher and start to cool off and fall. Bearish traders would eventually like to see the stock fall below the $43 level again and hold this mark as resistance.