Pfizer Set to Break Further to the Upside

Pfizer (PFE), a large pharmaceutical company, has a bullish price pattern. Since January 2006 PFE has made higher lows that define a price upside and it has broken above the $27 resistance level to form an ascending triangle, a bullish price formation.

The next chart shows the ascending triangle pattern in more detail. You can easily see the flat top and higher lows that define the ascending triangle. This price pattern suggests that PFE has more upside potential.

Another attractive feature of Pfizer is its $0.96 annual dividend with a yield of 3.50 percent.

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Posted December 1, 2006.