Pfizer Inc., an American based pharmeceutical company and one of the biggest of its kind, reported a $2.5 billion net income for the second leg of this year. Aside from that, its revenue increased 58 percent to $17.3 billion. As a result of good news, the Pfizer stocks (PFE in the New York Stock Exchange) gapped up during the opening of yesterday’s trading session and ended with a 5.56% gain to $16.34.
Chart-wise, the stocks recently broke out from the 7-month downtrend and could now hedge up higher.If it does, it could encounter some selling pressure at $17.39 resistance. If that hurdle gets cleared out, the next resistance could be $18.15. On the flip side, the immediate support could be $15.95. If it furthers moves past below the 15.95 price mark, the next support could be $15.50.