The S&P 500 had a good week due to the impressive start of Q1 earnings and favorable inflation data. In March, the consumer price index rose 5%, lower than the previous month's 6%, and met economists' expectations.
MODERNA, PFIZER: vaccine status update
2020-09-16 • Updated
In one of the recent interviews, Donald Trump claimed that the US pharma sector is three to four weeks away from the vaccine for the Covid-19. He mentioned Pfizer (the primary candidate to win the vaccine race, competes mainly with Moderna) and Johnson&Johnson (never appeared in the media headlines as vaccine developer until now). Very possibly, that is another pre-election move to spark the interest of the audience. On the other hand, he is not the only country leader who “reports” that the vaccine is coming: China did the same recently, not to mention Russia. So it appears that the world pharma sector is indeed somewhere close to the final stages of the vaccine. What does it mean? Those companies that manage to develop the vaccine first will probably see the cost of their shares rise in value. Let’s have a look at the main candidates and our technical targets to prepare for that.
Pfizer: knocking the rooftop
On the below chart, the technical layout is pretty clear. Pfizer’s stock price descended from the heights of above $40 where it used to be during 2018-2019 to the depths of $30 during the crisis. Since March, it made two marches upwards, and we seem to witness the third one now. However, in none of those marches it managed to break the roof of $39. Now, as it is approaching this resistance, so is nearing the verbal deadline of 3-4 weeks announced by the US President. If there are positive signs of the vaccine development as the days go by, we are likely to see this resistance broken. In this scenario, the closest target for the stock price will be $41. Otherwise, is Pfizer doesn’t manage to deliver on time, the stock price is likely to bounce downwards from the resistance to make another dip to the trend bottom.
Moderna: shrugging off old trends
Moderna’s stock price used to go downwards in an equilateral channel since July. The last day’s candlestick in the chart below is clearly of that trend so it can now be discarded as a possible reference for levels. In the meantime, there is another channel where Moderna used to trade: a sideways trend with the bottom at $57 and the upper border at $68. The latter is the local resistance that is being tested by the price currently. If Moderna manages to cross it with confidence, it will likely aim at a tactical high of $95 as the far horizon – that is, if it is announced as a successful vaccine developer.
The previous year 2022, was undoubtedly tumultuous for the stock markets, with several stocks plummeting across multiple industries. Analysts have blamed the hard times on inflation, hawkish federal reserve policies, an impending global recession, and the ongoing crisis in Ukraine. This year, however, we're beginning to see some recovery in the stock markets. This article will find a few stocks worth buying this year.
In a call scheduled for January 25, 00:30 am GMT+2, Microsoft will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.
Let's dive into the world of gold. Currently, the price of gold, represented by XAUUSD, is stuck in indecision, hovering around the $1,975 mark. The market is anxiously awaiting two important factors: the release of the Federal Reserve's meeting minutes and the extension of the US debt ceiling.
Hey guys, this is the last full trading week in May, and many forward-looking individuals like myself are already preparing themselves to seize whatever opportunities June may have in store. On this note, I will review a few commodities that have satisfied my quest for swing-trading opportunities in the coming month. Follow me!
The Bank of England (BoE) has dramatically shifted its economic forecasts. They no longer expect a recession in the UK and have upgraded their growth projections. This year, the BoE predicts GDP growth of +0.25%, a significant improvement from previous expectations. Next year's forecast is even more optimistic, with a projected growth of 0.75%.