Pfizer Inc. (PFE/NYSE): general review
10 December 2018, 12:22
| Scenario | |
|---|---|
| Timeframe | Intraday |
| Recommendation | SELL STOP |
| Entry Point | 43.50 |
| Take Profit | 42.50, 41.50, 41.00 |
| Stop Loss | 43.85, 44.50 |
| Key Levels | 41.25, 42.50, 43.50, 45.00, 46.30 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 45.10 |
| Take Profit | 47.00, 47.50 |
| Stop Loss | 44.00 |
| Key Levels | 41.25, 42.50, 43.50, 45.00, 46.30 |
Current trend
Pfizer shares rose by 4.69% from the October 3-month lows, updating the 52-week highs. Since the beginning of this year, the issuer quotes have strengthened by 21.3%. At the end of October, the company reported with mixed financial results for the 3rd quarter of 2018. However, in November, Pfizer pleased investors with the approval of the regulator for Lorbrena, the medicine against leukaemia, and also received a six-month exclusive permission to sell Lyrica.
Last week, Pfizer shares fell by 3.49%. The S&P500 index for the same period decreased by 4.04%.
Support and resistance
Shares of the company went down, and at the moment #PFE quotes are consolidating. The key support and resistance levels are: 43.50 and 45.00, respectively. The issuer has the potential for further correction. Indicators do not give clear signals: the price has crossed 50 MA; the MACD histogram has begun to decline. A comparative analysis of the multipliers of the company and competing companies indicates the neutrality of #PFE.
Support levels: 43.50, 42.50, 41.25.
Resistance levels: 45.00, 46.30.
Trading tips
If the price consolidates below the support level of 43.50, a correction in the company's shares is expected. Potential profit levels would be 42.50, 41.50 and 41.00. Stop loss is 44.50.
If the price consolidates above the level of 45.00, it is necessary to consider buying #PFE. The issuer can rise to the area of 47.00-47.50. Stop loss – 44.00.
Trading scenarios will be relevant for 3 days.
Pfizer shares rose by 4.69% from the October 3-month lows, updating the 52-week highs. Since the beginning of this year, the issuer quotes have strengthened by 21.3%. At the end of October, the company reported with mixed financial results for the 3rd quarter of 2018. However, in November, Pfizer pleased investors with the approval of the regulator for Lorbrena, the medicine against leukaemia, and also received a six-month exclusive permission to sell Lyrica.
Last week, Pfizer shares fell by 3.49%. The S&P500 index for the same period decreased by 4.04%.
Support and resistance
Shares of the company went down, and at the moment #PFE quotes are consolidating. The key support and resistance levels are: 43.50 and 45.00, respectively. The issuer has the potential for further correction. Indicators do not give clear signals: the price has crossed 50 MA; the MACD histogram has begun to decline. A comparative analysis of the multipliers of the company and competing companies indicates the neutrality of #PFE.
Support levels: 43.50, 42.50, 41.25.
Resistance levels: 45.00, 46.30.
Trading tips
If the price consolidates below the support level of 43.50, a correction in the company's shares is expected. Potential profit levels would be 42.50, 41.50 and 41.00. Stop loss is 44.50.
If the price consolidates above the level of 45.00, it is necessary to consider buying #PFE. The issuer can rise to the area of 47.00-47.50. Stop loss – 44.00.
Trading scenarios will be relevant for 3 days.
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