georgeclerk
In this article, I will outline why I think the high yielding pharmaceutical giant Pfizer (NYSE:PFE) looks bullish. Pfizer, known for Eliquis and Xeljanz, yields 5.57% and has a dividend safety rating of B- according to Seeking Alpha. I will outline my investment thesis using technical analysis tools such as price action, volume, momentum, and relative strength. I last wrote about PFE being bullish back in April 2021. Pfizer has since risen and then sold off considerably, so now I will take a fresh look at Pfizer.
Chart 1 – Pfizer Weekly w/ Momentum, Volume, and Relative Strength
www.stockcharts.com
When analyzing a stock, I often start with looking at price action on a weekly basis using a 30-week exponential moving average (EMA). Using weekly price data helps smooth out the day-to-day noise, and using a 30-week EMA gives me an intermediate to long-term viewpoint of the trend. My goal is to buy a stock that is trending…
