Pfizer (PFE) Stock Chart: Few Clues, Buy Elsewhere

The chart of Pfizer (PFE) has improved in the past two months, but the rally has stopped at the August highs.
By Bruce Kamich ,

NEW YORK (TheStreet) -- Most of the time, when I look at the chart of a security, I can come to an opinion and a point (sell-stop) where I am wrong. When I look at a chart of Pfizer (PFE) - Get Report , I'm not sure.

The chart of PFE has improved in the past two months, but the rally has stopped at the August highs. The On-Balance-Volume (OBV) line is trying to move up, but it has been moving in fits and starts. PFE is above a flat 50-day Moving Average (MA), but at the bottom of the chart we can see a bullish divergence followed by a more-recent bearish divergence.

In this chart of PFE, above, we see a positive, like prices being above the 40-week MA, but we also see bearish clues. We might be looking at a double-top formation on PFE at the $36 level. The OBV line is gradually declining, and the Moving Average Convergence Divergence oscillator is crossing at the zero line, which is not a robust signal. The bottom line for me is there are better looking charts where I feel more confident in my opinions.

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