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Pfizer Stock: 3 Levels You Must Know When It Reports Earnings

Pfizer stock is down more than 12% over the last 10 weeks. Will earnings turn things around? Here are the levels to know now.

Pfizer  (PFE) - Get Pfizer Inc. Report has been in the news for almost two years now, as the COVID-19 pandemic continues to wear on.

Pfizer joins Moderna  (MRNA) - Get Moderna, Inc. Report and Johnson & Johnson  (JNJ) - Get Johnson & Johnson (JNJ) Report as the key vaccine makers in the fight against the coronavirus.

The recent push for booster shots of the vaccine have renewed interest in these names, but that does not mean the stocks have fared all that well. 

Specifically for Pfizer, the company recently received clearance from the FDA for its COVID vaccine aimed at children. 

Over the last 10 weeks, Pfizer stock is down 12.5%, while Moderna and J&J are down 20.3% and 8.3%, respectively.

That said, Pfizer is still up 18.5% this year and 30% over the past 12 months.

Still down about 16% from the highs, bulls are hoping that earnings can help turn things around.

Trading Pfizer Stock

Daily chart of Pfizer stock.

Daily chart of Pfizer stock.

Pfizer stock has not performed all that well since its blow-off top in August. After hitting a high of $51.86, the stock reversed hard, and despite making new highs in the session, closed down 2.2%.

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A few days later, Pfizer shares made another charge higher, but registered a lower high after topping out at $51.36. Since then, it’s been a painful bleed lower.

However, with the drastic moves over the past few months, we have three must-know levels on the upside and the downside.

Should we get a bearish post-earnings move, I first want to see how the $42.50 to $43 area acts as support. Near the former is the 21-day moving average, while the latter serves as a major breakout level.

If that zone fails to hold, it puts the $41 level in play, which was strong support amid the recent correction.

Finally, if Pfizer stock breaks below both of these zones, the $40 level will be in focus. Near $40, investors will find the 200-day moving average and the weekly VWAP measure.

On the flip side, bulls are hoping for the post-earnings momentum to continue in their favor.

Currently, shares are fading from the 50-day moving average. While this measure is a focus on the upside, I’m more curious on how Pfizer stock handles the $44.85 to $45.35 zone.

There it finds not one but two major daily VWAP measures. Above that opens the door to the $46.40 to $47.70 zone, which is where the 50% and 61.8% retracements come into play.

Finally, if Pfizer is able to clear these marks on earnings or in the days to follow, the $50-plus zone will be on watch. While Pfizer has highs above this level, the stock has only managed to close above $50 once and it occurred before the reversals, not after.