The Long Investor

$PFE

Added 2023-05-11 19:19:41 +0000 UTC

$PFE dropped down out of its short term trend line today (shown on our short term chart), on the ex-dividend day date, was this a share raid? I am not sure, but this activity right after a stellar earnings report last week is a bit odd to me. That being said, we play the cards we are dealt.

I have looked at the long term chart for $PFE today and there is a very obvious trend line support level we are just at now, dating back all the way to 2008. We can see that the price found support here 5 times over the last 15 years, apart from the Covid black swan event in March 2020....which it then benefited greatly from.

Also, we can see that $PFE is right at the bottom of the apex of a large descending wedge, right as it hits the historical trend line....two very important observations.

What I am happy about? since it is ex-dividend date today, it means that I will receive 4.28% dividend in June, which equates to a $1.64 payment for each share.

And I will hold my shares and happy to add if the share price comes down lower, I have attached the fundamental chart and with a naked high, they are very strong, the one concern is the EPS for the next few years but with their recent acquisition, I believe this EPS projection will change soon.