Pfizer (PFE) has become ridiculously oversold at double bottom dating back to late 2022.  RSI, MACD, and Williams’ %R are all oversold, as well.  And from a current price of $40.81, we’d like to see PFE run back to $48 initially. 

We also have to remember that the COVID-19 vaccine translates into a significant bump-up in free cash flows for Pfizer. The company has been using the cash in two important ways.

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One, the company is investing heavily in research and development to speed up the existing product pipeline. And two, the company has been actively acquiring companies, having just announced a $43 billion agreement to buy Seagen—which will help PFE widen its offerings.

Sincerely,

Ian Cooper