The G20 summit took place in Bali, Indonesia, on November 2022…
Pfizer revealed strong Q1 earnings
Information is not investment advice
Pfizer, a huge pharmaceutical company and one of the vaccine makers, has published better-than-expected earnings results for the first quarter of 2021.
The market forecast was 0.79 as you can see in the picture above. The actual numbers significantly surpassed the expected level. In comparison, one year ago, Pfizer's earnings were 0.60 per share.
Vaccine-making is likely to bring Pfizer even more revenue in the second quarter as the company will produce and deliver 1.6 billion in 2021 due to the signed contracts. Pfizer and its partner BioNTech are planning to get the full FDA approval for their Covid-19 vaccine by the end of May. Moreover, the FDA may give a green light for Pfizer to vaccinate children aged 12-15 already next week, according to the New York Times.
On the daily chart, the RSI indicator went above the 70.00 level, signaling the stock is overbought. Therefore, after a short spike (probably above $40.00) due to the positive earnings, Pfizer may correct down in the short term. If you prefer taking positions for a long period (a few weeks or a month), you shouldn’t be afraid of this short sell-off as Pfizer is one of the leading vaccine producers and a credible pharma company, thus in the long term, it’s likely to climb up further. However, if you a day trader, keep an eye on the stock as it may reverse down. Don’t forget that FBS traders can open both buy and sell orders trading stocks. Therefore, use the possible sale to your advantage. If it falls, it will be supported by the recent low of $38.40 and the 200-day moving average of $37.00, which it’s unlikely to cross on the first try.
The deafening news shocked the whole world yesterday: the British Queen Elizabeth II died peacefully at the age of 96…
After months of pressure from the White House, Saudi Arabia relented and agreed with other OPEC+ members to increase production.
Greetings, fellow forex traders! Exciting news for those with an eye on the Australian market - the upcoming interest rate decision could be good news for Aussies looking to refinance or take out new loans. The Mortgage and Finance Association Australia CEO, Anja Pannek, has...
Hold onto your hats, folks! The Japanese yen took a nosedive after the Bank of Japan (BOJ) left its ultra-loose policy settings unchanged, including its closely watched yield curve control (YCC) policy. But wait, there's more! The BOJ also removed its forward guidance, which had previously pledged to keep interest rates at current or lower levels. So, what's the scoop? Market expectations had been subdued going into the meeting, but some were still hoping for tweaks to the forward guidance to prepare for an eventual exit from the bank's massive stimulus