Pfizer Stock: Rebound Has Started (Technical Analysis)

Summary

  • Pfizer's earnings and sales have fallen due to decreased demand for COVID-19-related products, leading to a large selling pressure this year.
  • The stock price has recently started rebounding from its low point and is showing bullish technical signs for continued momentum.
  • Besides these technical signs, I also see fundamental catalysts that could support further price rallies.
  • At current prices, the market has already factored in the potential headwinds judging by the pessimistic EPS outlook and the low P/E even assuming such an outlook.
  • Its ongoing pipeline, especially the oncology pipeline with the Seagen acquisition, offers further upside potential.
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Pfizer Canada head office in Kirkland, Quebec, Canada.

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PFE stock: COVID-19 product demand deterioration

Pfizer Inc. (NYSE:PFE) (NEOE:PFE:CA) is facing a challenging year ahead. Earnings and sales fell markedly last year due to the deterioration in demand for its COVID-19-related products. The market probably already saw

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Envision Research, aka Lucas Ma, has over 20+ years of investment experience and holds a Masters with in Quantitative Investment and a PhD in Mechanical Engineering with a focus on renewable energy, both from Stanford University. He also has 30+ years of hands-on experience in high-tech R&D and consulting, housing sector, credit sector, and actual portfolio management.

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Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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