Bull Flag on Pfizer (PFE)
Discussed in this article: Pfizer Inc. ( $PFE )
I want to do a quick chart review on Pfizer ( NYSE:PFE ). I actually published an article on the website today discussing this move. Look, this stock broke out of a volatility squeeze here, ran up a couple bucks, drifted sideways, and now broke out again on heavier than average volume, so this is a flag pattern. The minimum measured move you’d look for is about two dollars here, so this has got a little bit more to go before this a move on the flag pattern is completed, not a big move, not a big gain after all. but when you look at the weekly chart you can see this has actually been a pretty profound volatility squeeze. The stock is now breaking higher and so I think Pfizer ( NYSE:PFE ) could go quite a ways higher after this little pause that refreshes. So my suggestion would just be to get long, stay long and let this stock do what it’s going to do.