What will the closing low be for Pfizer this year?
That is a critical question because the nearly-infallible 23.7% Minimum Closing Range Theory that has worked for at least 31 consecutive years shows that the high close of the year will be at least 23.7% higher than the closing low. In fact, starting with 1982, there have been only three occasions where the range as measured from low close to high close has been below 25% (1988, 2007 and 2012) with the low being 1988's 23.7%.
Right now, Pfizer is testing heavy resistance just above $26. If it should break through, what is now resistance would then become support. If the low of the year should turn out to be something like $25.60, a 25% gain from there would put the stock at $32.
My current target price a year out is $28 based on a PE of about 12. But if the stock has a definitive breakout above $26, I'm going to have to materially raise that target price. It's tough to go against a history that has worked 31 times out of the last 31 years.