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| 5/17/99 Pfizer Inc
(PFE)
Points to watch: Watch the stock of Pfizer this
week. Since peaking in April the stock has reversed and is now approaching important
support. The stock has fallen below both its 21 day (118.75) and 55 day (131.85)
moving averages. On April 29th the stock fell below its 200 day moving average
(116.79) for the first time since breaking above it last October 23rd. Money Flow
and daily OBV continue to be negative, and MACD gave a sell signal on 4/21. Recent
rally attempts since 4/29 have all been stopped by resistance at 118.13 ( the 50%
retracement of the October-April rally). On Friday the stock closed below Gann angle
resistance at 114.25 which had acted as support over the last week, giving a weak sell
signal. Additional downside support exists at 110.63, a level which acted as support
in December and January. A break below this level would be a strong sell signal.
We would place stops around resistance at 118.25.
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