Pfizer (PFE) – Bullish DailyPlay for Tuesday Oct 16th, 2018
The bullish DailyPlay we chose for Tuesday Oct 16th is Pfizer (PFE). PFE is part of the Healthcare Sector (XLV). Over the last month, XLV has experienced a 3.30% move lower and its 1m and 6m trend has turned bearish on 10/10 but recently bounced higher off its $90 support level after being oversold.
Pfizer’s 1m and 6m trends turned bullish yesterday and recently bounced higher off its $43 support level. With a technical score of 9 (out of 10), PFE is a bullish stock that is likely to continue higher.
As a stop loss, if PFE was to trade below $43 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
Learn to Trade Options: How to Maximize your Debit Spreads – Thurs 10/18 @ 4:15PM EST