Pfizer Inc. ( PFE) shares were raised to an outperform (buy) rating by a sell side firm here on Tuesday. Pfizer's stock price has been weak since the middle of December, so let's visit the pharmaceutical giant's charts to see if this recommendation is early or prescient. 
In this daily bar chart of PFE, below, I can see that prices made a low in October followed by a strong rally and a second decline to another low in late December. The recent late December low is higher (so far) than the October low but the indicators are not supporting that observation. The 50-day and 200-day moving averages have negative slopes. The daily On-Balance-Volume (OBV) line has fallen to a new low for the move down and the Moving Average Convergence Divergence (MACD) oscillator broke its October low even though prices made a higher low.
In this weekly Japanese candlestick chart of PFE, below, I see a mixed picture. Prices are trading below the 40-week moving average line and the slope of the average line is negative. The weekly candles are trying to hammer out a bottom formation but I do not see an impressive enough lower shadow and bullish confirmation. The weekly OBV line has been weak the past 13 months. The MACD oscillator has slipped back below the zero line for an outright sell signal.
In this daily Point and Figure chart of PFE, below, I can see that shares of PFE have reached a downside price target in the $43 area.
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In this second Point and Figure chart of PFE, below, I can see a price target in the $32 area.
Bottom line strategy: The charts and indicators of PFE have more work to do to get on the same page as the fundamentals. Prices could hold and rally but I cannot make a strong case for that right now.
