Last week we used DXCM as an example of how powerful a bullish MACD crossover pattern could be. After our post last Thursday, it shot up and looks to keep going. Check out the article here. To build on that success, we startled looking for other stocks that are showing that same pattern. We were able to find one that is setting up but we are going to wait for the confirmation before jumping in.
Pfizer Inc. (PFE) showed a bullish move late last week. Take a look here:
You can see the MACD crossing over to the upside on the bottom of the chart above. It is far enough into oversold territory that it has some potential to run. The last piece we are going to keep an eye on is to see if it can find support at the 10 day moving average. It has been hitting resistance there and a breakthrough would be a strong buy signal.
We’ll keep an eye on this one and definitely follow up.
Keep learning and trade wisely,