Shares of Pfizer Inc. (PFE) have broken out over their December 2020 highs Wednesday and one long-time Real Money subscriber asked me what price targets due I see now after the company reported earnings.
Let's look at two Point and Figure charts.
In this daily Point and Figure chart of PFE, below, we can see a potential upside price target in the $61 area. A substantial price appreciation from current levels.
In this weekly Point and Figure chart of PFE, below, we can see an impressive $94 price objective.
In this long-term bar chart of PFE, below, we can see that prices are in position to break out over the historical peaks of 1999 and 2000.
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How easy it is to follow the market talking heads, but let's be careful of latching onto supposed analysis of 'market participants' and 'market structure' ... whatever those are ...
Wednesday's down to up move makes trading decisions more complex.
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