Saturday, March 27, 2010

Pfizer Inc. (PFE) trading plan

Pfizer Inc. (PFE) chart analysis and trading plan ;
1) Price did bounce above its 200 days exp MA, zooming up to test the 50 days
2) PFE found heavy resistance at its 50 days exp MA
3) Pfizer is once again right on its 200 days, BUT, still in a higher lows pattern
4) Now look at the left of the chart, where you see the "usual high volatility prior to a break out", in reality this event occurs when those two important moving average get closer together. I expect some wild price moves right around that 200 moving average for at least 2 weeks (or earlier) until an important fundamental event is annouced, causing the break out we are all expecting.
5) Direction of the break out ? Price leads, I follow ..... do not anticipate !

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