PFE technical breakthrough and good newsAfter breaking through a key resistance at 38.77 during this week, the weekend brought Pfizer some really good news regarding COVID-19 vaccine, wich we expect to give strenght to the technical pattern, acting as catalyst and driving the price up to at least 9$ on this monday December 13th.
PFIZ34 trade ideas
NYSE:PFE Pfizer stock price forecast, Buy Breakout, Target 68.45Pfizer (NYSE: PFE)
Trade : Buy Breakout
Entry : 42.84
Target : 68.45 (25.61, +59.78%)
Stop : 37 (-5.84, -13.63%)
Posted on Sunday, December 13, 2020
Note : Pharmaceutical stocks are drawing attention in connection with the COVID-19 (Coronavirus disease 2019) vaccine. Pfizer is one of them. There is no COVID-19 vaccine yet that everyone recognize the efficacy, and it is not known how long it will take. In other words, the prices of pharmaceutical stocks related to the COVID-19 vaccine could not be assured. Pfizer stock prices fell after hitting the resistance line of 42.84. If they strongly break out that price line again, it would be a sign of rise. In that case, the next resistance(target) could be 56.12 and 68.45. If the pharmaceutical market is very strong, we may see 99 or so. It would be better to find opportunities to buy when its stock price breaks out 42.84.
PFE/USD_WeeklyEven though PFE was rejected from the $41.50 level on the weekly, there's more room to the upside in MHO. Seems to me that there's a little more room to grow, keeping in mind that there may be a major announcement coming soon.
Levels that I'm watching at the moment: $37.20 and $35.20 to the downside; $43.90 to $45.70 to the upside