This Big Pharma Stock Sees Major Chart Support
InTheMoneyStocks.com | Jan 28, 2019 04:54PM ET
Pfizer Inc. (NYSE:PFE) is starting to look attractive. This pharma giant peaked out on December 4, 2018 at $46.47 a share. On Monday, the stock traded lower by 0.76 to $39.89 a share. Currently, PFE stock is trading below its 200-day moving average, which signals near-term weakness.h3 Support To Watch/h3
The next key support area that I'm watching for PFE stock is around $38, which is an important support level where the stock broke out in late July 2018. One of my favorite strategies is to look for stocks that are trading back into their prior break-out levels. The institutional money is usually there to support and defend the equity.
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