How Low Can Pfizer Go?

Pfizer (PFE), a multi-billion dollar revenue pharmaceutical company, is down 56.19% since it peaked at $39.67 on July 12, 2000. As of the June 23 close at $17.38, PFE is at price levels last seen in October 1997, almost eleven years ago.

How much more can it decline? The stock is below its $18 to $19 intermediate term support level with only multi-year support levels left. Without unexpected good news from the company or a complete turnaround in the broad market, PFE is likely to head lower.

I (RAH) own PFE.

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Posted June 24, 2008.