PFE is a major defensive stock, paying a 6.00%, dividend, that is now a turnaround pay. Pfizer earnings boomed in 2020 and 2021 thanks to the development and sales of its Covid vaccine, but then in 2023 sales of that vaccine collapsed and so did its revenue. It hired tens of thousands in 2021 and in the past twelve months has been laying people off.

In May it announced a corporate restructuring plan and the stock began to turn up.

It got close to $30 a share and pulled back, in what looks like a consolidation pattern, as it’s trading around its three major moving averages - the 50-day, 150-day, and 200-day MA’s.

It’s likely to continue to consolidate for a bit here, but if it breaks through $30 it will complete its stage one bottoming process and begin a new stage two bull market.

It’s not my play of the month for July.

I wrote about that yesterday in a WSW Pro only update.

No “AI” is used to write this email or edit it.

And…..

For WSW Pro members here are two stocks, I actually like better than PFE, in terms of entry points, and a new high dividend sector, I have my eye on this week.

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