Pfizer Inc (NYSE:PFE), one of the world's largest pharmaceutical firms, is on the verge of a bullish Golden Cross, a significant technical indicator suggesting potential upward momentum for the stock.
Currently, PFE stock is trading at around $30, showing a year-to-date gain of 2.6%, despite being down 16% over the past year.
Chart created using Benzinga Pro
The golden cross, where the short-term moving average crosses above the long-term moving average, is viewed by traders as a bullish signal.
Chart created using Benzinga Pro
Pfizer's share price is above its 5, 20, and 50-day exponential moving averages, indicating a strong bullish trend. Specifically, PFE stock is trading above its 8-day simple moving average of $29.04, 20-day SMA of $28.35, and 50-day SMA of $28.37, all suggesting bullish pressure.
Chart created using Benzinga Pro
Additionally, Pfizer's Moving Average Convergence Divergence (MACD) indicator stands at 0.35, reinforcing the bullish outlook, although the Relative Strength Index (RSI) at 68.96 suggests the stock is nearing overbought territory.
Bollinger Bands further support the bullish sentiment, with the 25-period bands ranging from $26.73 to $29.45, with the stock trading over the upper bullish band.
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Looking ahead, Pfizer is anticipated to potentially exceed its financial guidance, driven by higher utilization of its products such as Comirnaty and Paxlovid, and strong performance from its newly acquired oncology portfolio from Seagen.
Analysts forecast up to 30% growth in its oncology franchise and vaccine sales, contributing to Pfizer's ambitious goal of adding $25 billion in risk-adjusted revenue by 2030.
However, challenges remain. Demand for Pfizer's COVID-19 products and oncology drugs could fall short of expectations, and risks related to key product sales, pricing pressure, and pipeline developments persist.
Despite these concerns, the upcoming golden cross and recent bullish signals suggest Pfizer stock may be poised for further gains.
As Pfizer prepares to report its Q2 earnings, all eyes will be on whether these bullish indicators translate into sustained growth for the pharmaceutical giant.
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オーストラリアでは、moomooの投資商品及びサービスはMoomoo Securities Australia Limitedによって提供され、オーストラリア証券投資委員会（ASIC）の管理を受けております（AFSL No. 224663）。「金融サービスガイド」、「利用規約」、「プライバシーポリシー」などの詳細は、Moomoo Securities Australia Limitedのウェブサイトhttps://www.moomoo.com/auでご確認いただけます。
