Pfizer Shares Look Attractive (PFE)

Pfizer Inc. (NYSE:PFE) is an attractive stock for its dividends and price appreciation. Pfizer closed at $18.25 at the end of the trading day Friday and currently offers a dividend yield of 3.5%. In addition, PFE has been in a steady, uptrending price channel since early March ’09.

(WallStNation.com | Bret Beaupain) Currently, PFE is pulling back from the upper end of its price channel and would present a very good buying opportunity if it continues its recent pattern and approaches the lower boundary of the channel. Also, the 50-day moving average has provided some support in the past and it is currently trending very close to the lower boundary of the price channel, which should provide additional support to the stock price if it approaches that level.

Therefore, from a technical standpoint, it may be a prime buying opportunity for investors on Pfizer Inc. (NYSE:PFE) if the stock closes in the range of $17.50 to $17.75 in the next few weeks.

Other technical indicators favoring more upside for Pfizer are the 50-day moving average and 200-day moving average. The 50-day moving average turned positive in early May ’09 and has remained positive to this point. More importantly, the 200-day moving average appears to have just recently turned positive after being in decline since June ’07.

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SOURCE: http://wallstnation.com/PFE-buy-watch-11262009