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Good question. The stochastics, rsi, momentum, all still say down. There was a white candlestick today, though, which is positive, and the shadow was not really long enough for it to be considered a star and a sign of a top. So what I would really like to see tomorrow would be a slight gap up and then a close below the open, which preferably would press into the white body of Weds. That would give us dark cloud cover and would be negative. I wouldn't like to see the stock run any past 40, but I would probably keep my position even if it ran, because I think this stock is grossly overvalued. I think PFE is overvalued and it actually is selling product. So my tea leaves are mixed- my charts say down, my candlestick from today up, but this could be easily resolved as the candlesticks are day to day and the charts are longer term. The best of all possible worlds is when they agree- and it is possible the rickshaw man 6 days ago called the top and thus the candlesticks ARE in agreement with my charts. We will have to wait for confirmation- bummer, wish the crystal ball was working. |
