— Nautilus Research (@NautilusCap) July 29, 2021
Today’s Chart of the Day was shared on Twitter by Nautilus Research (@NautiliusCap). It’s a chart of Pfizer ($PFE) in two different time frames. Nautilus points out that the past two years of price action look exactly like the past two decades of price action. In Technical Analysis, we often say prices are fractal in nature. Meaning, price patterns behave in the same way in both short-time frames and long-time frames. In this case, $PFE is attempting to break out of a 2-year base, and a 20-year base at the same time. You could even call this a bullish Cup & Handle pattern if that’s your thing. The bottom line is that this former Dow stock is attempting to break out across multiple time frames. So, whether you’re a long-term investor or swing trader, this setup looks promising as long as the stock can hold above $40.