ONLINE FOREX BROKER
2020-12-16 • Updated
Well, as expected, Pfizer’s stock price fell. Why? Because the emotional wave that pushed it up is exhausted. It went to $43 on the vaccine news. But what was the news? That the vaccine is ready, that has more than 90% of efficacy, that it is to be distributed, etc. And that’s good enough. But the virus is still there, right? In the US and in Europe, the rates are as high as ever in certain regions, restrictions are double-enforced in some cities. Therefore, the joy of knowing that the vaccine is coming couldn’t have had but a temporary effect. In the meantime, the fundamental layout doesn’t offer any specific reason why Pfizer’s stock would leap and stay too excited. Is that a bad investment option then?
No, not at all. By releasing the vaccine, Pfizer confirmed that they are a solid pharma company – as they’ve been until now - able to deliver when needed. Probably, they needed this opportunity to shine again and spur its market capitalization back to the upside, and it happened exactly this way. In a downtrend since the second part of 2018, Pfizer’s stock recovered well from the virus hit and reached $40 – a level it last visited a year ago. Now, even with a local cooling off, this stock seems to be well set for the upside. Therefore, the suggestion to trade it is the following: go mid-term, give a while to cool off and reach a local bottom, the buy when you see a bullish reversal from the current downturn. If you reserve a month or so to hold it, it may well reach $42 again – that’s the recommended Take Profit for a position trading strategy. Don’t forget to put the Stop Loss: $36 appears to be appropriate to guard the downside.
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Here's the scoop: The Bank of England (BOE) is set to accelerate the pace at which it shrinks its balance sheet, according to one of its deputy governors. Currently, the BOE is unwinding about £20 billion of quantitative easing every three months. The goal is to reduce the stock by around £80 billion per year through active sales and maturing assets.
It seems like the Canadian consumer has a firm grip on their wallet, which is no surprise given the current economic climate. Inflation in April crept up from 4.3% to 4.4%, adding to the financial woes.
On Wednesday, the US dollar weakened in anticipation of the US CPI data, which could influence market exposure. A Bloomberg survey predicts a year-on-year read of 5.0% to the end of April. Market sentiment is affected by the US debt ceiling and issues with regional banks. While the major APAC equity indices are...
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%.
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Don’t waste your time – keep track of how NFP affects the US dollar and profit!
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