Sunday, August 16, 2020

Large Insider Buy at Pfizer Made Me Look At that Stock

Barron's has reported that Pfizer's Director Ronald Blaylock has made the largest open-market purchase of the stock since 2003. Mr. Blaylock paid $510,000 on August 6th for 13,000 Pfizer (NYSE: PFE) shares. The Director has paid an average price of $38.53 for the shares. The stock has been trading lower and as of Friday, August 14, 2020, it was trading at $38.06. The money flow indicator is nearing oversold territory and the MACD is flashing a sell signal. A good entry point for the stock may be around $37.70. There seems to be support for the stock at this level. If the stock breaks below $37, another entry point would be around $32.50. The stock was at that level when the money flow indicator was in oversold territory on July 24, 2020.

Exhibit: Entry Points for Pfizer 

 

 (Source: Tradingview)           

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