pfe nyse

Pfizer Stock Continues to Drop (NYSE: PFE)

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Pfizer shares are trading at a one-month low, down 2.8% from mid-September. Since the beginning of the year, the emitter’s quotes dropped by more than 17.5%. Pfizer announced the merger of its generic drug business segment with Mylan, which will be part of the upcoming M&A deal. Earlier, the company published promising test results for a new drug in the treatment of eczema.

pfe nyse

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During the previous week, Pfizer shares dropped by 0.86%. S&P500 index went down by 0.51% during the same period.

Trading tips

If the price consolidates below the support level of 35.50, #PFE quotes are expected to decline further. Potential profits should be locked in by orders at 34.50, 33.50, and 33.00. Stop loss – 36.50.

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If the price consolidates above 37.00, one may consider buying the company’s stock. The moving potential is aimed at the area of 38.50–39.50. Stop loss – 36.00.

Implementation period: 3 days.

Scenario
TimeframeIntraday
RecommendationSELL STOP
Entry Point35.50
Take Profit34.50, 33.50, 33.00
Stop Loss35.85, 36.50
Key Levels34.10, 35.50, 37.00, 37.75, 38.75
Alternative scenario
RecommendationBUY STOP
Entry Point37.10
Take Profit38.50, 39.50
Stop Loss36.00
Key Levels34.10, 35.50, 37.00, 37.75, 38.75

Support and resistance

The emitter has stabilized after a sharp fall since mid-July. At the moment, the company’s shares are consolidating. Local support and resistance levels are at 35.50 and 37.00, respectively. The instrument has the potential to further decline.

Indicators don’t give a clear signal: the price crossed MA(50); MACD histogram is located near the zero line. Positions are to be opened from key levels.

Comparing the company’s multiplier with its competitors in the industry, we can say that #PFE shares are neutral.

Support levels: 35.50, 34.10.

Resistance levels: 37.00, 37.75, 38.75.

Pfizer Inc. develops, manufactures and sells. health care products worldwide. It provides medicines and vaccines available in various therapeutic areas, including inner medicine, vaccines, oncology, inflammation and immunology, and rare diseases under Lyrica, Chantix / Champix, Eliquis, Ibrance, Sutent, Xalkori, Inlyta, Xtandi, Enbrel , Xeljanz, Eucrisa, BeneFix, Genotropin, and Refacto AF / Xyntha brands. The company provides consumer health care products that include over-the-counter medicines, including dietary supplement products called Centrum, Caltrate and Emergen-C; pain management products under Advil and ThermaCare names; gastrointestinal products under Controlled Nexium and Neonium 24HR / Nexium names; and respiratory and personal care products under the names Robitussin, Advil Cold & Sinus, and ChapStick. In addition, it provides products that lose marketing patent protection or lost it; branded kinds products; sterile generic injection products; biosimilars; and anti-infections under the Lipitor, Premarin people, Norvasc, Lyrica, Celebrex, Viagra, Inflectra / Remsima, Zyvox, Vfend, Revatio, Inspra, Medrol, Sulperazon, Fragmin, Tygacil, Nivestim and Retacrit, Ixifi Infliximab BS names. Moreover, the company is also involved in the contract manufacturing business. It caters for wholesalers, retailers, hospitals, clinics, government agencies, pharmacies, and individual supply offices, as well as disease control and prevention centers. The company has co-operation and / or co-promotion agreements with Bristol-Myers Squibb Company, Astellas US Pharma, Inc., and Oncolytics Biotech Inc.; licensing agreement with BionTech AG; strategic alliance with Verily Life Sciences LLC; and cooperation agreements with Pfizer, Merck & Co., Inc., and Lilly Eli & Company, as well as KGaA Merck, Nektar Therapeutics, and Syapse, Inc. Pfizer Inc. was founded. in 1849 and has its headquarters in New York, New York.

 

Jul-30-19DowngradeMorgan StanleyOverweight → Equal-Weight$48 → $40
Jul-30-19DowngradeBofA/MerrillBuy → Neutral
Jun-04-19ResumedMorgan StanleyOverweight$48
Feb-20-19ResumedCitigroupNeutral$41
Jan-31-19UpgradeCredit SuisseNeutral → Outperform
Jan-31-19UpgradeArgusHold → Buy
Jan-23-19DowngradeUBSBuy → Neutral
Dec-11-18DowngradeJP MorganOverweight → Neutral
Nov-01-18DowngradeBMO Capital MarketsOutperform → Market Perform
Jun-08-18InitiatedCantor FitzgeraldOverweight$45
Apr-05-18DowngradeBarclaysOverweight → Equal Weight$41 → $38
Jan-29-18ReiteratedSunTrustHold$33 → $40
Sep-20-17UpgradeMorgan StanleyEqual-Weight → Overweight
Jul-20-17DowngradeCredit SuisseOutperform → Neutral
May-16-17DowngradeCitigroupNeutral → Sell
Dec-02-16InitiatedGuggenheimNeutral
Nov-02-16DowngradeArgusBuy → Hold
Oct-13-16DowngradeJefferiesBuy → Hold
Jun-20-16ReiteratedJefferiesBuy$42 → $40
May-12-16InitiatedBerenbergHold$38

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