Pfizer Share Price Forecast July 2021 – Time to Buy Pfizer Shares?
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Shares of pharmaceutical and biotechnology corporation Pfizer Inc. (LSIN: 0Q1N) are in the green today as the company has been taking part in providing the Covid-19 vaccine. It makes investors wonder if this is the right time to pick 0Q1N.
Pfizer Shares – Technical Analysis
The financial statement released by Pfizer Inc. reveals that the company has a market cap of $169.663B while the total assets are worth $115.11B. The revenue of the company for 2020 was $30.66B compared to $31.08B in 2019. The market was closed on July 23 at $41.8 with an uptrend of 1.09%.
According to the technical information of 0Q1N, Moving Averages like Exponential Moving Average (10)(40.6), Simple Moving Average (10)(40.5), Volume Weighted Moving Average (20)(39.9), and Simple Moving Average (20)(39.7) are pointing to a buy action. Oscillators such as Stochastic RSI Fast (3, 3, 14, 14)(80.5), Williams Percent Range (14)(-2.0), and Bull Bear Power (2.6) are being neutral, while MACD Level (12, 26)(0.6) is pointing towards buying.
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Recent Developments
As mentioned earlier, Pfizer Inc. has been offering Covid-19 vaccines to several countries. On July 23, Australia’s New South Wales experienced its highest daily rise of Covid-19 cases in 2021. Federal Health Minister Greg Hunt announced that Pfizer’s PFE Covid-19 vaccine has been approved by the country’s drug regulator for children aged 12 to 15. On the same day, Pfizer Inc. and its German Partner BioNTech stated that the US government has bought an extra 200 million doses of their vaccine for Covid-19 which makes a total number of 500 million doses for the US.
On July 24, Covid-19 cases continued to rise further in Sydney, and Australia decided to buy 50,000 more vaccine doses from Pfizer Inc. this week. On July 25, the United States administers 340.4M doses of Covid-19 vaccines that included two-dose vaccines from Moderna, Pfizer/BioNTech, and Johnson & Johnson. The number reached 394.9M doses on July 25. The vaccines developed by Pfizer/BioNTech are also showing effective results in resisting severe illness in Israel, according to the report of the health ministry of Israel. On July 26, South Korea announced that they have also switched to Pfizer PFE/BioNTech’s BNTX vaccine from Moderna.
Should You Buy 0Q1N Shares?
From an investor’s point of view, you need to consider the risk-reward ratio before purchasing a share. The price of 0Q1N shares is going up constantly for the last few months as the company is also doing great in the industry. Technical information offers more insight. All Moving Averages are pointing towards buying, while oscillators are being neutral or showing a buy signal. So, it may be a good time to invest in 0Q1N shares.
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