Shares of the giant pharmaceutical company Pfizer Inc. (PFE) are poised to make an upside breakout. Let's check out the latest charts and indicators to plot a technical strategy.
In the daily bar chart of PFE, below, we can see that prices have made a number of probes into the $39-$40 area since late April but none of these upside attempts have ignited a sustained move up. PFE is trading above the rising 50-day moving average line and the bottoming 200-day moving average line.
The On-Balance-Volume (OBV) line bottomed in March and June and has strengthened into July and August. With the OBV line improving it looks like PFE should soon make a stronger test of the $39-$40 area.
The Moving Average Convergence Divergence (MACD) oscillator is above the zero line and looks like it is curving upwards for a new go long signal.