The spread of the COVID-19 virus is so fast that hundreds of countries have been infected and are suffering serious impacts. As the virus continues to rapidly spread around the world, what is happening with Pharmaceutical stock prices?
Teva– As a company engaged in the pharmaceutical industry, of course the current situation has many possible price impacts on their stock prices. Teva itself is cooperating with the World Health Organization and actively contributing to current conditions.
Teva has restricted unnecessary business trips to and from countries where there may be an increased risk of infection. All affected countries have created local response teams that are following the instructions of the local health authority and advising employees on relevant local guidelines, working proactively and taking steps to ensure the reliability of the global supply chain and identify opportunities for the pharmaceutical and API businesses to overcome deficiencies in the affected markets.Teva MN,W1,D1.
The decline in stock prices on Teva has been going on since July 2015 from a height of 72.20; since then prices have continued to decline to 2-decade lows, while currently is at 9.07. Low prices in 2019 were at 6.06, while this year the price has risen back to 8.08 with a peak of 13.74 in February.Outlook Daily ,Teva.
Daily, prices are still moving below the MA 120 (yellow line), past the ascending trendline and touching the key level at the price of 8.08. So far there has been no confirmation of price increases other than candlestick patterns in the form of pin bar formations. MACD enters the selling space in a thinning histogram stack. If 8.08 is a strong key level as a support for Teva, then we can be sure the divergence pattern will be valid.
Is there any chance that an epidemic will bring fortune to TEVA? There is a possibility of lifting prices if there is a rise in demand, or a vaccine discovery. But the supply chain of medicines is also disrupted in the present situation. Between the current panic situation that has hit the markets, and fears of recession, the market could move without a clear direction.Pfizer, MN
Pfizer– Pfizer is an American multinational pharmaceutical company headquartered in New York City. It is one of the largest pharmaceutical companies in the world. The company is listed on the New York Stock Exchange, and its shares have been a component of the Dow Jones Industrial Average since 2004. The company develops and manufactures medicines and vaccines for various medical disciplines, including immunology, oncology, cardiology, endocrinology, and neurology.
Its stock price is approaching a 3-year low, at an annual low of 31.64. The first decrease was recorded at the peak price of 46.46 in December 2018, the second decline at the peak price of 44.27 in June 2019 and this year at the peak of 40.92 in January 2020. So in total there were 3 waves of decline and 2 waves of correction. Current technical conditions prices are below the 120 and 200-day moving average with a MACD divergence bias that is clearly visible in the selling area in the weekly and daily periods. Is there a possibility of a breakthrough rebound amid the current worrying pressures? There may be a prospect comparable to the performance of a company that is able to take advantage of the current situation.
Meanwhile, GW Pharmaceuticals is a British biopharmaceutical company known for some of the sclerosis nabiximols treatment products with ingredients derived from the first natural cannabis plant that received market approval in many countries. The GWPharma share price has also declined below the 120-day moving average MA with a new low price of 83.99 engraved today. The downward bias is still thick, with MACD deep in a strong selling zone.
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