Pfizer stock prices (NYSE:PFE) finished January 15 at a new 5-month high, adding 3.8% in value since early January. The company announced the publication of its financial results for the past quarter on January 28. The Wall Street forecasts revenue drop by 9.12% (YoY) to USD 12.7 billion, with earnings per share decline of 10.94% (YoY) to USD 0.57. During the previous week, Pfizer stock grew by 4.12%. S&P500 went up by 1.12% within the same period.
Turning to the Market Today
US Stock Market
Investors are focused on the first phase of the trade deal, signed yesterday by US President Donald Trump and Vice Prime Minister of the PRC Liu He. The announced details generally confirmed the information already available to market participants. China pledged to procure American products worth USD 200 billion over two years. In 2020 the amount of purchases is expected to be USD 77 billion, and in the next yesr, another USD 123 billion will be paid. The main exports will be industrial and energy products, rather than agricultural ones, as previously assumed. In response, the U.S. administration canceled tariffs, which were due to take effect in December, and reduced Chinese export duties totaling USD 120 billion to 7.5%. Ncreased tariffs on Chinese exports worth USD 250 billion remain in force as a guarantee of the fulfillment of the obligations by the PRC. In addition, China must submit an intellectual property protection plan.
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Generally, the market was positive about the signing of the deal, but experts believe that the tension in trade relations between the United States and China can continue. Doubt is caused by the planned volume of purchases of American goods, which seems excessive for China. If Beijing is unable to fulfill its obligations, the Trump administration will again resort to higher tariffs.
Europe Stock Market
European Investors have mixed feelings about the signing the first phase of the US-China trade deal. The euro is strengthening to the US dollar and the yen but weakens to the British pound. On the one hand, the agreement will ease trade tensions, and on the other, keeping a significant part of US tariffs on Chinese exports in force will continue to put pressure on the world economy. The German December inflation data published today met the market expectations, the indicators remained the same. The consumer price index was 0.5% MoM, and 1.5% YoY. One should also note the new trade conflict that is growing between China and the Netherlands. Under pressure from the United States, Dutch authorities may prohibit the supply of ASML’s latest equipment to China. If this decision is confirmed, the PRC threatens to reconsider its trade relations with the Netherlands, which in 2018 exported Chinese products worth USD 43.7 billion.
Oil quotes are correcting down today. Prices are pressured by the details of the US-China trade deal and statements by the International Energy Agency (IEA). According to the agreement signed yesterday, within two years, China must purchase at least USD 52.4 billion worth of energy from the United States, which could lead to a reduction in the share of other oil manufacturers in the Chinese market. IEA representatives said that world production is likely to exceed demand, even if the OPEC+ agreement is fully implemented by all participants. Note that the yesterday EIA report recorded a decrease in US oil reserves by 2.549 million barrels, but these data did not support prices.
Pfizer Stock Support and Resistance
The shares of the Pfizer are dominated by “bullish” tendencies. The stock prices has set new local maxima. Currently, #PFE quotes are testing the local resistance level of 41.00. 39.50 is a “mirror” support level. The instrument has the potential to recover. Indicators show the strength of the buyers: the price has consolidated above MA(50) and MA(200), and MACD histogram started to grow. Positions are to be opened from key levels. There has been a large bump and run from the upward trend in the past, which led to a death-cross. The Gaussian channel is an upward trend, while the Green fractal indicates bump and run.
Support levels: 39.50, 38.65, 37.75. Resistance levels: 41.00, 42.50.
Pfizer Stock Trading Ideas
If the price consolidates above the resistance level of 41.00, further growth of #PFE quotes is possible. Potential profits should be locked in by orders at 42.50, 44.00, and 45.00. Stop-loss – 39.50. If the price consolidates below 39.50, one may consider selling #PFE. The moving potential is aimed at the area of 37.00–36.00. Stop-loss – 41.00. Implementation period: 3 days.
Pfizer Stock Recommendations
Jan-07-20 Initiated RBC Capital Mkts Outperform $46
Oct-17-19 Resumed BofA/Merrill Neutral $37
Jul-30-19 Downgrade Morgan Stanley Overweight → Equal-Weight $48 → $40
Jul-30-19 Downgrade BofA/Merrill Buy → Neutral
Jun-04-19 Resumed Morgan Stanley Overweight $48
Feb-20-19 Resumed Citigroup Neutral $41
Jan-31-19 Upgrade Credit Suisse Neutral → Outperform
Jan-31-19 Upgrade Argus Hold → Buy
Jan-23-19 Downgrade UBS Buy → Neutral
Dec-11-18 Downgrade JP Morgan Overweight → Neutral
Nov-01-18 Downgrade BMO Capital Markets Outperform → Market Perform
Jun-08-18 Initiated Cantor Fitzgerald Overweight $45
Apr-05-18 Downgrade Barclays Overweight → Equal Weight $41 → $38
Jan-29-18 Reiterated SunTrust Hold $33 → $40
Sep-20-17 Upgrade Morgan Stanley Equal-Weight → Overweight
Jul-20-17 Downgrade Credit Suisse Outperform → Neutral
May-16-17 Downgrade Citigroup Neutral → Sell
Dec-02-16 Initiated Guggenheim Neutral
Nov-02-16 Downgrade Argus Buy → Hold
Oct-13-16 Downgrade Jefferies Buy → Hold
Pfizer Stock 1 Day Moving Averages
Name Value Action
Exponential Moving Average (5) 39.89 Buy
Simple Moving Average (5) 39.71 Buy
Exponential Moving Average (10) 39.55 Buy
Simple Moving Average (10) 39.33 Buy
Exponential Moving Average (20) 39.22 Buy
Simple Moving Average (20) 39.23 Buy
Exponential Moving Average (30) 38.97 Buy
Simple Moving Average (30) 38.94 Buy
Exponential Moving Average (50) 38.57 Buy
Simple Moving Average (50) 38.40 Buy
Exponential Moving Average (100) 38.37 Buy
Simple Moving Average (100) 37.35 Buy
Exponential Moving Average (200) 38.91 Buy
Simple Moving Average (200) 39.21 Buy
Ichimoku Cloud Base Line (9, 26, 52, 26) 39.47 Neutral
Volume Weighted Moving Average (20) 39.24 Buy
Hull Moving Average (9) 40.20 Buy
Tom, aka T Rex, is seasoned financial pro that cut his teeth on the Chicago trading oil futures in 1995. In less than 3 years he bought his own seat and set up shop on the exchange. For the next 10 years Rex traded his own account and some institutional accounts. In 2017, he decided to move to Florida and focus on educating traders and writing for financial websites.