Technical Analysis of Financial Markets

Wednesday, August 02, 2006

Pfizer, Inc (PFE)

Jeffrey Kindler takes over as Pfizer’s CEO from Henry McKinnell and the stock stages a mini-rally. The previous trading session technically broke and closed below the uptrend support of the mini-rally and with RSI overbought, and overbought stochastics crossing looking to turn lower, now may be a good entry for a short position. Watch Fibonacci retracement levels for targets. Stop-loss if close above $27.

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