Pfizer is one of those companies that we all feel has been shady and the stock value shows it. As much as human emotion can draw this value down, hedge funds and smart money will start stepping in now. The chart says it all. We are talking about one of the longest running publically traded companies folks, this will rebound. Its not a matter of if, but when.
I have started a minor position in Pfizer today and plan to DCA weekly small amount until we form a bullish trend.
Good luck!
I have started a minor position in Pfizer today and plan to DCA weekly small amount until we form a bullish trend.
Good luck!
Trade active:
In 2000 Pfizer reached an ATH of $47, during the housing crash of 2008 it bottomed at $11. That is a 75% drawdown in one of the worst rescissions in history.
The previous ATH was $62, currently trading at $26 in arguably the best market conditions that we have seen in a couple years. If we do match the measured move of 75% drawdown that will take us to a bottom of $15.5. I don't think it will get that low, but that is my absolute bottom target on PFE.
The previous ATH was $62, currently trading at $26 in arguably the best market conditions that we have seen in a couple years. If we do match the measured move of 75% drawdown that will take us to a bottom of $15.5. I don't think it will get that low, but that is my absolute bottom target on PFE.