Wells Fargo downgraded their fundamental view of Pfizer ( PFE) Tuesday from "overweight" to "equal weight" (buy to hold). Let's take a look at the charts and indicators. 
In this daily bar chart of PFE, below, I see a weakening picture for shares of PFE. Prices have quickly retreated since the middle of December. PFE has fallen below the cresting 50-day moving average line and below the still declining 200-day moving average line.
The On-Balance-Volume (OBV) line has been weak since the middle of December telling me that sellers of PFE have been more aggressive than buyers. The Moving Average Convergence Divergence (MACD) oscillator has turned lower in recent weeks and is now in a sell signal below the zero line.
In this weekly Japanese candlestick chart of PFE, below, I cannot miss the large upper shadow around $55 in early December. This is a dramatic looking rejection of the highs. Prices have weakened and are below the 40-week moving average line.
The OBV line shows weakness in December as part of a longer declining trend. The MACD oscillator is above the zero line but has been narrowing for a number of weeks. A crossover signal could come soon.
In this daily Point and Figure chart of PFE, below, we can see a downside price target in the $44 area.
In this weekly Point and Figure chart of PFE, below, I can see a price target in the $37 area.
Bottom line strategy: The charts of PFE are weak and probably pointed lower. Traders should avoid the long side of the stock - a "hold" recommendation only works when a stock is in an uptrend. Just saying.
