The European Union announced the purchase of 1.8 billion doses

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05 May 2021 16:30

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Since the onset of the global pandemic, attention has focused on combating the virus by restrictive means, awaiting the development of different vaccines to immunize most of the population as soon as possible. The main purpose of this was to start overcoming the virus and gradually return to our normal lives. Since the Covid-19 vaccine candidate was announced last November, both Pfizer, Moderna and AstraZeneca have been in the light.

If, during this period, AstraZeneca received almost all the criticism, due to distribution problems and side effects, Pfizer was the positive face of this process. This is because, along with the Modern formula, their vaccine has been the most requested by the different country administrations. For example, last April the European Union announced the purchase of 1.8 billion doses of Pfizer for the years 2022 and 2023.

In a recent study conducted in South Korea, it was discovered that the Pfizer vaccine showed 86.6% effectiveness in preventing the virus among those over 60 with only the first dose administered, which shows a very positive data set.

This good news led Pfizer to get exclusive results in the first quarter of 2021. As shown in the results released yesterday, the company has achieved profit of $ 4.9-billion, earning revenue per share of $ 0.93 and income of $ 14.58-billion.

These results exceeded market expectations as analysts expected Pfizer to earn per share of $ 0.77 billion with revenue of $ 13.67 billion. Despite the fact that these were better than expected and that the profit grew by 45% compared to the same period last year, yesterday there was only an increase of 0.30%.

Technically speaking, if we look at the daily chart, we can see that after marking a low on March 23, 2020, the price followed an upward trend that made it face its long-term bearish guideline after surpassing $ 42.80 per share, which led to it making a strong correction.

Currently the price is in a zone close to $ 40 per share, so these positive results, along with the strength shown by the price after the triple bullish cross in its moving averages, could lead the price to face its line against the long-term low . It is important that we study the price performance in the coming sessions as the price could correct its main support level at its 18-session black moving average to gain momentum. Losing this level would jeopardize this last upward momentum.

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Source: Admiral Markets MetaTrader 5. Daily letter from Pfizer. Data range: from 3 August 2018 to 5 May 2021. Prepared on 5 May 2021, at 12:15 CEST. Remember that past returns do not guarantee future returns.

Evolution of the last 5 years:

  • 2020: -0.89%
  • 2019: -10.24%
  • 2018: 20.51%
  • 2017: 11.51%
  • 2016: 0.62%

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