Oil Prices Plunge On Falling Fuel Demand Concerns
The energy industry has undergone several major changes in the XXI that are becoming increasingly apparent…
Pfizer revealed strong Q1 earnings
2021-05-04 • Updated
What happened?
Pfizer, a huge pharmaceutical company and one of the vaccine makers, has published better-than-expected earnings results for the first quarter of 2021.
The market forecast was 0.79 as you can see in the picture above. The actual numbers significantly surpassed the expected level. In comparison, one year ago, Pfizer's earnings were 0.60 per share.
Vaccine-making is likely to bring Pfizer even more revenue in the second quarter as the company will produce and deliver 1.6 billion in 2021 due to the signed contracts. Pfizer and its partner BioNTech are planning to get the full FDA approval for their Covid-19 vaccine by the end of May. Moreover, the FDA may give a green light for Pfizer to vaccinate children aged 12-15 already next week, according to the New York Times.
Tech analysis
On the daily chart, the RSI indicator went above the 70.00 level, signaling the stock is overbought. Therefore, after a short spike (probably above $40.00) due to the positive earnings, Pfizer may correct down in the short term. If you prefer taking positions for a long period (a few weeks or a month), you shouldn’t be afraid of this short sell-off as Pfizer is one of the leading vaccine producers and a credible pharma company, thus in the long term, it’s likely to climb up further. However, if you a day trader, keep an eye on the stock as it may reverse down. Don’t forget that FBS traders can open both buy and sell orders trading stocks. Therefore, use the possible sale to your advantage. If it falls, it will be supported by the recent low of $38.40 and the 200-day moving average of $37.00, which it’s unlikely to cross on the first try.
Similar
What Can Drive Oil below $90 a Barrel?
The past two years have seen the biggest swings in oil prices in 14 years, which have baffled markets, investors, and traders due to geopolitical tensions and the shift towards clean energy.
Why Didn't Oil Prices Calm Despite OPEC+ Attempts?
After months of pressure from the White House, Saudi Arabia relented and agreed with other OPEC+ members to increase production.
Latest news
USD: Powell Speaks on Cutting Interest Rates
Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...
WTT: Currency Pairs To Trade In April
Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
EURUSD: Seeking liquidity in weekly selling zones. Key intraday levels.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
