Mar. 31 at 2:04 AM
$PFE “is up 9% so far this year as it recovers from a significant drawdown that dates to the Covid era. Pfizer
retreated from the
$60 level in December 2021 and dropped below
$20 last April when it recorded a spinning top candle.
Looking at its daily chart over the past year shows first how its secular trend is changing as the 200-day simple moving
average started to curl higher in January:
A bullish ascending triangle took shape starting last October, gaining 15% in the first week after a favorable tariff
ruling. That week saw the strongest volume in at least five years. Note the bearish candlesticks at the top of the
pattern with a spinning top on Oct. 3, a doji on Feb. 13, and an engulfing candle last Friday.
I admire how much better it is remaining near the $
27.50 area this time compared with last October. Enter here and look for the stock to move toward
$32.50 in the second
half, which represents a 20% gain from current prices. Remain bullish above
$24.50.”
