Latest News

Top Pharma Stocks to Buy Now

The stocks of the vaccine producers have gained a lot during 2021 due to the wide vaccination campaign around the world. Still, the COVID-19 pandemic is still not over as the virus is mutating and the scientists need to create new and new vaccines. What does it mean for traders? A great opportunity to invest in pharma stocks especially the ones engaged in the production of vaccines.

Moderna (NASDAQ:MRNA)

Moderna has joined the S&P 500 index this year. It skyrocketed to almost $500 – the all-time high on this news, but then dropped back to $300 amid the broad market correction. Moderna has recently submitted its COVID-19 booster shots for adults to the FDA. If officials approve it, the stock price of Moderna will rocket! The first resistance level lies at the round number of $350.00. If the stock manages to cross it, the stock may jump above the 50-day moving average at $400.00. Support levels are $295.00 and $250.00.

Moderna

AstraZeneca (LON:AZN) (NASDAQ:AZN)

Many hedge funds have added AstraZeneca into their portfolios. Among them are Fisher Asset Management, GQG Partners, and other heavyweights. Apart from producing vaccines against COVID-19, the company produces other medicines and also working on an advanced breast cancer treatment. The key level of £87.50 acts now as support, while it was acting like resistance during August. Thus, we might expect the price to retrace to this level and then reverse up to £90.00. When AstraZeneca breaks above this level, it will rally up to £92.50.

Moderna

Johnson & Johnson (NYSE:JNJ)

JNJ sells pharmaceuticals, consumer health products, and many well-known consumer goods (Johnson’s Baby products, Acuvue contact lenses, etc). Apart from that, it’s a vaccine maker and quite a successful one! The FDA claimed that the second dose of the JNJ Covid -19 vaccine is effective two months after the first. As a result, the JNJ stock skyrocketed.

The stock of JNJ has failed to cross the psychological level of $160.00. If it manages to break it and the high of October 7 at $162.00, we might expect the downtrend to change to an uptrend. So far, the stock price is moving in the descending channel. Still, if we look at the weekly or monthly chart, we’ll see that it’s just a correction in the long-term uptrend. Thus, wait for the confirmation of the change of a trend.

Moderna

Top Pharma Stocks to Buy Now

Disclaimer:Fusion Mediawould like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

What's your reaction?

Excited
0
Happy
0
In Love
0
Not Sure
0
Silly
0

You may also like

Leave a reply

Your email address will not be published. Required fields are marked *

More in:Latest News