Awaiting completion of a what looks to be a very nice inverse head and shoulders for NYSE:PFE. Notes: Bullish TA outlook - PFE broke out of a long-term head and shoulders recently, which is clearly visible on the weekly chart Buy Rating - 10 analysts cover NYSE:PFE. 5 Buy recommendations and 5 Hold recommendations. This has improve gradually over the past 3 months Analyst Price Target - Average $48.50 with a high of $55 and a low of $45
Trade: Buy - Strong breakout above $43.75 Stop Loss - Personally I would do any close under the 200 day MA but you could go as low as $40.33 Stop - Based on the size of the IH&S ($39.50 low to $43.75 neckline), TA theory indicates the stock should head to roughly $48, which just so happens to be right around all time highs (coincidence??)