Should you buy Pfizer shares?

By:
on Mar 7, 2022
Listen
  • Pfizer has been a stock to watch since the outbreak of COVID-19.
  • The share price hit a higher low at $48.34.
  • MACD analysis indicates the beginning of bullish momentum.

Follow Invezz on Telegram, Twitter, and Google News for instant updates >

Pfizer Inc. (NYSE:PFE) has been a stock to watch since the pandemic began and the company developed a vaccine. PFE has continued to innovate, with the latest product being a pill for high-risk populations. Financial performance has been strong. As research continues on mRNA technologies for drug development, PFE is likely to grow in leaps and bounds. Today’s article analyzes how well PFE’s fundamental strengths reflect on the stock.

Pfizer remained bullish over the last two weeks despite market jitters caused by the invasion of Ukraine by Russia. This trend affirmed market confidence in the fundamental strengths of the company. However, it is worth noting that Pfizer rallied after a losing streak from the beginning of the year. The current price could be considered a market-adjusted higher low. Investors should consider PFE a buy at $48.34.

MACD signals the beginning of a bullish trend on Pfizer

Copy link to section
Source – TradingView

Technical analysis indicates that Pfizer maintains a strong bullish trend considering the MACD line is above 0. The observation is consistent with the moving averages, which confirm an upward trend in the share price. From the MACD histogram, the -1.24 is the lowest divergence of MACD from the signal. This coincides with the higher low recorded on the share price at $48.34 closing. The divergence is a signal to buy as the price is set for a rally.

Summary

Copy link to section

Pfizer is a recommended buy at the prevailing share price of $48. The share price may have bottomed out at a higher low. The market has adequately discounted the news coming from Ukraine and Russia, and the price may not go any lower.

Ad

Copy expert traders easily with eToro. Invest in stocks like Tesla & Apple. Instantly trade ETFs like FTSE 100 & S&P 500. Sign-up in minutes.

Featured Broker

Looking to invest?

Invest globally in stocks, options, futures, currencies, bonds and funds from a single unified platform, with our highest-rated broker.

Ad
10/10

eToro offers real assets only, no CFD products. eToro USA LLC and eToro USA Securities Inc.; Investing involves risk, including loss of principal; Not a recommendation.

Are you looking for fast-news, hot-tips and market analysis? Sign-up for the Invezz newsletter, today.

Get demo account
Pfizer USA Health & pharma North America Stock Market