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Old 03-25-2010, 04:03 PM   Nav to Top  #1
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Default PFE - Pfizer Inc

The downward correction of Pfizer Inc (PFE) stopped at the Moving Avarage (34) and developed a bullish Morning Star pattern. Now we can expect the price to move up to the level of approximately $19.5-$20.


One of the most important bullish signals here is a breakthrough of the downward trendline on the daily chart. At the same time there is a 3 Inside Up candlestick pattern which increases the possibility of a bullish scenario. The first target is a $18.7 point. Another one is $20 point which was shown before on the weekly chart.


Arguments for upside movement:

* bullish morning star on the weekly chart;
* the price went above MA (34) on the weekly chart;
* bullish englulfing and 3 inside up on the daily chart;
* the price broke the downward trendline on the daily chart.


Arguments for downside movement:

* the price is still below MA (34) on the daily chart;
* the level at $17.70 (the middle of the long red bearish candle) is a significant resistance level which can stop upside movement.
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Old 03-26-2010, 07:42 AM   Nav to Top  #2
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Great first post Client, thumbs up.

I missed this one last week when it pulled back to high $16's, which seems to be bottom this year so far. The chart looks really fantastic for a reversal, so this could be a good one to catch at the bell for a quick day trade. I'll be watching.
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Old 03-26-2010, 02:43 PM   Nav to Top  #3
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Originally Posted by Saintjames View Post
Great first post Client, thumbs up.

I missed this one last week when it pulled back to high $16's, which seems to be bottom this year so far. The chart looks really fantastic for a reversal, so this could be a good one to catch at the bell for a quick day trade. I'll be watching.
Thanks. Other hot stock picks are coming soon.
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