2020-08-21 • Updated
The coalition of Pfizer and BioNTech have announced that the regulatory review of the Covid-19 vaccine is scheduled for October. This positive news may add some tailwinds to the Pfizer stock.
Their vaccine is going through the second phase of trials in the USA and Germany now. According to Pfizer, the vaccine is “well tolerated with mild to moderate fever in fewer than 20%” of participants. It’s one of the fast-developing and promising vaccines as in July Pfizer and BioNTech have signed a deal with the US government to produce 100 million doses of its vaccine for 2 billion dollars. Companies are planning to reach same agreements with Canada, the UK and Japan. Some analysts believe this vaccine may be approved for use in the USA in November as a strategic move of Donald Trump during his re-election. If it really happens, it will make the vaccine of Pfizer and BioNTech a clear frontrunner. However, more realistic deadlines are set for the end of this year or early 2021.
Moreover, Pfizer has other successful products except from the vaccine such as Ibrance and Eliquis. Therefore, the company will prosper independently of the Covid-19 vaccine’s effectiveness. The pharmaceutical company has increased its dividend payments by 35.7% over the past 5 years. That made it a highly reliable company in the eyes of investors. Pay closer attention to BioNTech as Pifzer has lost 1% of its’ value since the beginning of this year, while BioNTech has surged by 95%.
Let’s look at the charts. Pfizer is trading just below the key resistance of $39.00. If it manages to cross it, it may jump to the psychological mark of $40.00. Otherwise, if it falls below the low of August 11 at $37.75, it may dip down to the 200-day moving average at $36.50.
Vaccine hopes may drive BioNTech above the close resistance of $71.50. If it rises above it, the way to the high of August 3 of $85.00 will be clear. On the flip side, if it drops below the low levels of early July at $63.00, it may slump to $58.00.
Crude oil futures surged on Monday due to disruptions in Russian refining capacity caused by Ukrainian drone strikes and Moscow's decision to cut output to comply with OPEC+ targets. The West Texas Intermediate (WTI) contract for May settled at $81.95 a barrel, up $1.32, while the Brent contract for May settled at $86.57 a barrel, also up $1.32. Russia instructed...
Brent oil is currently on a bullish trend, facing resistance near $84 and supported by the 200-day EMA. Breaking above this level could lead to a climb towards $90. Short-term support is observed around $80, backed by the 50-day EMA. As summer approaches and travel increases, crude oil tends to benefit from seasonal patterns. Despite temporary setbacks, buying...
Bearish Scenario: Sales below 80.00 with TP1: 79.34, TP2: 78.94, TP3: 78.55, and 78.00 Bullish Scenario: Buys above 78.00 (wait for a retracement to the zone) with TP: 79.34 TP2: 80.00, and TP3: 81.00
Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...
Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.
Your request is accepted.
A manager will call you shortly.
Next callback request for this phone number
will be available in
If you have an urgent issue please contact us via
Live chat
Internal error. Please try again later
Don’t waste your time – keep track of how NFP affects the US dollar and profit!
|
