Current trend

Shares of Pfizer Inc., the largest American pharmaceutical company, are trading at 30.00.

Ahead of the publication of the second-quarter report, leading analysts are adjusting their estimates of the asset, and BMO Capital Markets experts maintained their Upperform rating with a stable target price of 36.0 dollars. The positive assessment is primarily due to the management’s announcement of the promotion of the weight loss drug Danuglipron to the market after successful trials. Economists at UBS Group AG also increased the target price of the issuer’s shares from 28.0 dollars to 30.0 dollars, maintaining the Neutral rating. Experts expect strong results in the second quarter and positively assess the likelihood of Pfizer Inc.’s development after the acquisition of the biotechnology corporation Seagen Inc. Financial report is due on July 30, and the central forecast is for revenue of 13.04B dollars, up from 12.7B dollars a year earlier. Earnings per share (EPS) may reach 0.455 dollars, down from 0.670 dollars in the second quarter of 2023. The next dividend payment is scheduled for September 3, and investors will get 0.42 dollars per share, which is 5.69% yield.

Support and resistance

On the daily chart, the trading instrument is correcting above the Neckline of the Head and shoulders reversal pattern at 30.00.

Technical indicators are reinforcing the buy signal: the fast EMA of the Alligator indicator are held above the signal line, expanding the range of fluctuations, and the AO histogram is forming correction bars above the transition level.

Resistance levels: 30.35, 32.70.

Support levels: 29.60, 27.00.

Trading tips

Long positions may be opened after the price rises and consolidates above 30.35, with the target at 32.70. Stop loss is below 29.50. Implementation period: 7 days or more.

Short positions may be opened after the price falls and consolidates below 29.60, with the target at 27.00 and stop loss 30.50.