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Promising Upside for Pfizer
By Mike Paulenoff, www.MPTrader.com
I have looked at dozens of charts this morning, and one that pops out at me because it looks promising on the upside is Pfizer (NYSE: PFE). Let's notice that the price structure has put in significant work around the 17.00 area in the form of double-bottom lows in May and again in Sept. Since the 9/17 low, PFE has clawed its way up the right side of the pattern and is "threatening" to climb towards a test of key resistance at 19.30 and 20.00/20 to complete and confirm the pattern. A break below 18.00 will begin to compromise the timing of the anticipated upside test of the key resistance levels.
