PFIZER Long Term Bullish Trend and Elliott Wave Cycles

The PFIZER long term bullish trend and Elliott Wave cycles suggest the stock price will be trending higher. The cycles project it should continue toward the April 1999 highs 50.04 while it is above the February 2018 lows. From the beginning of the stock trading it had a couple decades long uptrend cycle to the April 1999 peak. This is where the analysis begins on the chart at the larger degree blue wave (I).

Firstly I will mention that is roughly a 10 year decline in the blue wave (II) to the March 2009 lows. This was certainly long enough in time and price to correct the previously mentioned decades long up trend cycle. The pullback was a basic seven swing double three correction. You can see the subdivisions of the larger degree red w and y subdivided into three swings each as well. The connector wave red x appeared to have been a triple three although it is not of any significance now. It served the purpose at the time of being the connector wave.

Secondly I will talk about the impulsive bounce from the March 2009 larger degree blue wave (II) lows. I would also like to mention you can see the guidelines for reading Elliott Wave structures From the March 2009 lows the larger degree red I subdivided into a clear five waves. There was enough room on the chart to show the subdivision the wave ((2)) lows to the wave ((3)) highs into five waves of smaller degree in blue. The analysis and conclusion continues below the chart.