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.
Pfizer: a stock to buy now
2023-03-08 • Updated
Traders often ask “how do I know the right moment to buy”. A local low in a large uptrend – that’s when you buy. Pfizer’s stock price performance gives a perfect example on the daily chart below.
Here is how the story goes. At the end of 2020, Pfizer resulted to be the main vaccine producer. Its stock soared above $40 – twice. After that, it dropped to the area at $36 undoing all the gains. Why?
First, the market stopped being emotional. Having a vaccine is perfect but it doesn’t solve the problem of the virus – not yet.
Second, Pfizer’s CEO said the earnings in 2021 are probably going to be less than expected. The market got disappointment, the price cooled off. Standard story.
Nevertheless, in the long run, the company seems to be a good bet. At least, from the commercial point of view: it’s planning to increase the production of the vaccine to meet demand. That makes it a potentially good buy, in general.
Therefore, there are valid reasons to expect this stock to get up to $43 again. When? Extending the trend below says a couple of months may take it. It may be sooner, of course, but you don’t go with optimistic projections all the time, do you?
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