Lately PFE has been performing poorly compared to its peers such as BMY, JNJ, and Lilly. One could argue that PFE, until now, had a strong run over the last year, and it's merely catching its breath before it starts going up again. I certainly hope so. However BMY, JNJ, and Lilly have also had strong runs but they are continuing to climb whereas PFE seems to be stuck. Is PFE just catching its breath momentarily or is it really out of breath altogether? It is acting now as a narrow range bound, fully valued stock and maybe that is indeed what it is in the opinion of the investment community.
i think that we are seeing a lot of technical action in the markets .... that "correction" that "everyone" has been
looking for, has been taking place in front of their eyes ...
in a strong bull market , corrections are more like rotations .. .correcting on the run ... if money is being pulled
out of stocks , this action takes the market down , if the money is static, or some trickling in , then the
correction doesn't lower averages much(
This is one of the few oversold stocks out there. Why I bought calls.. I should be saying bought calls again. The technical are all bottoming now on the 3 month charts. Once the Stochastics makes a turn the stock should get back to $30 range.