Last week ended with sell-offs amid fears about the new extremely contagious COVID 19 Omicron variant. Crude and stock markets suffered. But during this brief rally some shares continued to gain, and it is no wonder that these are the stocks of vaccine producers.
Pfizer stocks posted a new all-time high on Friday rising by 6.11% to $54.94. Stocks were additionally supported when the company promised to develop a tailor-made vaccine in 100 days if the Omicron variant cannot be tamed by the current vaccine. The shares also reacted to the news that the European Medicines Agency approved the BioNTech-Pfizer vaccine for children aged 5-11. That is good news for the world’s top-selling medicine of the year.
In order for the shares to continue on this upside climb, the price of Pfizer stocks need to remain above $50.49, which is the shares’ peak which was reached in August, and also keep with its upward trend that started on November 4 and has a support level at $51.50-51.80.
BioNTech stocks also performed well, adding some 14.19% on Friday. The technical picture suggests stocks may rise further as they managed to break through the downward channel they have been on since August 10. Besides, we may see a reverse pattern “double dip” with a neck level crossing $304.35. The implementation of this pattern may boost stock prices to $378.67-401.19. Stock prices are close to the 61.8% Fibonacci correction level of the lows of August-November at $365.13. In case this landmark is passed, investors will have more reasons to push the stock to this year’s highs.
Moderna stocks also enjoyed the sunny side of the COVID-19 panic as they soared by 20.57% to $329.63 on Friday, breaking from their downward channel which began on September 23. The next price target is at the $387-395 area, where the 61.8% Fibonacci level from the downside correction of August-November, and the resistance line of the downward trend from August 10 are located.
I have already said that all Big Pharma stocks should be included in portfolios as they may all rally.
Nevertheless, at the beginning of the new week fears around the South African Omicron variant have faded as the virologist Barry Schoub, who advises the South African government, said he did not believe the variant will lead to a major new wave of serious illness and the vaccine will still protect most people from severe cases of COVID-19. But the overall picture now that there is a new variant in circulation is unclear, and the market may become agitated. In this case the best option is to have downside-resistant stocks in your portfolio. Some people may find profit anywhere!
Pfizer stocks posted a new all-time high on Friday rising by 6.11% to $54.94. Stocks were additionally supported when the company promised to develop a tailor-made vaccine in 100 days if the Omicron variant cannot be tamed by the current vaccine. The shares also reacted to the news that the European Medicines Agency approved the BioNTech-Pfizer vaccine for children aged 5-11. That is good news for the world’s top-selling medicine of the year.
In order for the shares to continue on this upside climb, the price of Pfizer stocks need to remain above $50.49, which is the shares’ peak which was reached in August, and also keep with its upward trend that started on November 4 and has a support level at $51.50-51.80.
BioNTech stocks also performed well, adding some 14.19% on Friday. The technical picture suggests stocks may rise further as they managed to break through the downward channel they have been on since August 10. Besides, we may see a reverse pattern “double dip” with a neck level crossing $304.35. The implementation of this pattern may boost stock prices to $378.67-401.19. Stock prices are close to the 61.8% Fibonacci correction level of the lows of August-November at $365.13. In case this landmark is passed, investors will have more reasons to push the stock to this year’s highs.
Moderna stocks also enjoyed the sunny side of the COVID-19 panic as they soared by 20.57% to $329.63 on Friday, breaking from their downward channel which began on September 23. The next price target is at the $387-395 area, where the 61.8% Fibonacci level from the downside correction of August-November, and the resistance line of the downward trend from August 10 are located.
I have already said that all Big Pharma stocks should be included in portfolios as they may all rally.
Nevertheless, at the beginning of the new week fears around the South African Omicron variant have faded as the virologist Barry Schoub, who advises the South African government, said he did not believe the variant will lead to a major new wave of serious illness and the vaccine will still protect most people from severe cases of COVID-19. But the overall picture now that there is a new variant in circulation is unclear, and the market may become agitated. In this case the best option is to have downside-resistant stocks in your portfolio. Some people may find profit anywhere!
