Summary
Pfizer is heading toward an important, very long-term resistance level.
We look at the technical side of Pfizer's stock history to see if there are any hints to what the future might bring.
Possible ways to trade and invest in Pfizer are discussed.
Source: Pfizer
After having been underperforming for the last several years, Pfizer (PFE) has been on a tear recently. Adding in the dividend yield of more than 3.1%, many buy-and-hold investors have profited nicely in a relatively stable company.
Back in 1999, Pfizer’s all time stock high was near $50. In February of this year, it hit another long-term resistance level and then pulled back. Since that time, the stock has been on a tear similar to the 1999 run up.
I feel the stock has been wildly overbought. I discuss that one might wait for a pull back to enter into a new position. If you are long the stock, you might consider taking profits or selling covered calls if you want to remain holding the stock. For more aggressive traders, one might consider buying puts.
