Pfizer Flirts with the Upside

Pfizer (PFE) gapped up on four times average daily volume after a Delaware federal court upheld the patents on the company's best selling drug, cholesterol-lowering Lipitor. Therefore, Lipitor will not be challenged by low-cost generics until its patents expire in 2010 and 2011.

PFE is trading at its downside trendline. The Price Direction Indicator (PDI) has turned up very slightly but it is too soon to declare that PFE has moved to the price upside.