How To Swing Trade PFE

Quarterly Chart

how to swing trade PFE

How to swing trade PFE — Pfizer has managed to stage an extraordinary comeback (like the market in general) from the 2008/9 lows.  Considering the strength of the run, its worth looking at whether the run can continue.

 

Monthly Chart

how to trade PFE

How to swing trade PFE — The monthly chart shows us that TAOST Hi/Lo Magnet Zone is managing to hold price in a tight range for the time being.  Another break out of the zone will give us a much stronger suggestion about the future direction of price.  It will also transition the zone itself into more of a support role.  Major resistance and support are hanging out at the blue and red horizontal lines respectively.

 

Weekly Chart

How to trade PFE

How to swing trade PFE — Here the weekly chart provides several potential spots to place stops if a long trade is taken off the weekly chart.  Remember, the bigger your stop, the fewer shares you can buy.  Simple trading 101.

Daily Chart

how to trade PFE

How to swing trade PFE — On the daily chart we have the much closer support and resistance levels.  Use these to put any trade you’re considering into context.

Metrics As of Close 28 April 2017:

How to trade PFE

The Trader Says:

Pfizer PFE is expected to report earnings on Tuesday 2 May 2017 before the cash market opens.  The chart suggests price could move either way, but then that’s always the case no?  That said, the overall sentiment and path of least resistance in the stock is higher.  I would wait for a break through daily resistance… assuming daily support isn’t violated (perhaps as a result of Tuesday’s earnings report) to provide a good support and resistance backdrop.  A break through that daily resistance will provide the first half of higher highs and higher lows… you can then use daily support as a place to place your stop.

As always, newsflow will have an impact, so be sure to have those stops in the market.

Mind your risk.

KIS,

The Trader

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