Pfizer

Pfizer, PFE, has been trading in a bull channel for a while and closed today at 27.14. Daily chart below.

www.freestockcharts.com

The bull channel started back in July of 2010 which isn't on the above chart. Recently they've broken to the upside and then fell back down to the top of the 34 day river. The bounce off the top of the river today, and the close above the top of the channel, makes for a nice buy opportunity. I'm not sure that right now is the best time to get in though, I would want to wait and make sure that the break is going to hold. The big number on the daily chart is 27.84, the old high, this will need to be broken for real confirmation of a bullish channel break. Other than that and the river the only other thing worth mentioning on the daily chart is the 100 day, currently at 25.46. It has shown strength in the past so in the event of a dip that is the place to watch. Next we have the weekly chart.

www.freestockcharts.com

The channel lines are the same as on the daily chart. The horizontal line marks the high I mentioned above, 27.84. You can see that back in June 2006 it held the price down a bit after an unsuccessful break. That the resistance line is so old makes it rather important. A successful break could see PFE move back up to 39.00,  I wouldn't bet on that move happening anytime soon though. Below are some hypothetical trading points.

Entry: 28.00, 29.00 (A break and hold above the 27.84 mark or a break above the failed 2006 break)
TP: 32.50, 34.00, 38.50, higher (Lots of room here, all time high is 50 so a very optimistic TP could be 45.00)
SL: 26.30, 25.25, 23.50 (under the daily river, 100 day, and under the last major dip)

This is not a short term trade, hold time could be over a year for the 34.00 target. The thing I like about Pfizer is that its chart looks nice and it pays a good dividend (3.60%). This is about as close to investing as I like to get. If the price falls to the channel bottom and bounces it could make for a good buy, I'll give another write-up if that happens rather than try to predict what that would look like now.
     
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Do your own research before taking any position. I do not currently own any PFE and do not plan on buying any within the next 72 hours.