Israel Health Ministry Shares PFE Vaccine Update

The stock has several layers of technical support in place

Deputy Editor
Jul 6, 2021 at 10:08 AM
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Pharmaceutical company Pfizer Inc. (NYSE:PFE) just said it is reducing deliveries of its Covid-19 vaccine to Mexico for two weeks as it works to renovate its United States plant. Separately, its shot, which it developed with BioNTech (BNTX), showed a 64% efficacy rate in Israel, with the highly transmissible Delta variant weakening some of its overall effectiveness, according to the country's health ministry. The ministry added, however, that the vaccine still has a 93% efficacy rate in preventing hospitalization and death. 

PFE is flat this morning, last seen off 0.2% to trade at $39.57. The stock has plenty of support locked in place, including its 60-day moving average and further down, the $38.50 mark. For the year, PFE boasts a roughly 7.9% lead. 

Analysts are still approaching the stock with caution, which could lead to an upward shift in sentiment, should some of this support continue to hold. Of the 14 in coverage, four say "strong buy," and 10  say "hold." Meanwhile, the 12-month consensus price target of $42.97 is an 8.9% premium to current levels. 

Regardless of its next move, now looks like a perfect time to speculate on PFE's next move by buying options. The stock's Schaeffer's Volatility Index (SVI) of 14% stands below  all other readings from the past year, suggesting options traders are pricing in extremely low volatility expectations right now. What's more, its Schaeffer's Volatility Scorecard (SVS) stands at 82 out of a possible 100. This  means the stock tends to exceed these volatility expectations -- a good thing for buyers. 

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