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Wednesday, January 03, 2024 2:28:16 PM
Pfizer Inc (PFE) Stock the Worst to Own in January, Historically
By: Schaeffer's Investment Research | January 3, 2024
• PFE had a rocky 2023, and could stumble to start 2024
• Pfizer stock's rally from 10-year lows could be short-lived, if past is precedent
Pfizer Inc (NYSE:PFE) stock moved steadily lower in 2023, closing 11 out of 12 months lower, with March as the only gainer. Though the shares have been on the rise since their Dec. 13 10-year low of $25.76 -- a result of the company's disappointing 2024 forecast -- PFE might not be in the clear just yet.
Per data from Schaeffer's Senior Quantitative Analyst Rocky White, Pfizer stock is at the top of the list of the worst stocks to own in January. In the past 10 years, the equity has finished lower eight times, averaging a 4% loss. A comparable move from its current perch at $29.86 would send PFE back toward its all-time lows. Furthermore, long-term pressure at the 60-day moving average is still in place.
An unwinding of optimism could provide headwinds as well. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the security's 10-day call/put volume ratio of 6.22 ranks higher than all other readings from the past year.
Options look like a good way to go when weighing in on Walgreens. Its Schaeffer's Volatility Scorecard (SVS) of 78 out of 100 means the stock usually exceeds volatility expectations.
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DiscoverGold
By: Schaeffer's Investment Research | January 3, 2024
• PFE had a rocky 2023, and could stumble to start 2024
• Pfizer stock's rally from 10-year lows could be short-lived, if past is precedent
Pfizer Inc (NYSE:PFE) stock moved steadily lower in 2023, closing 11 out of 12 months lower, with March as the only gainer. Though the shares have been on the rise since their Dec. 13 10-year low of $25.76 -- a result of the company's disappointing 2024 forecast -- PFE might not be in the clear just yet.
Per data from Schaeffer's Senior Quantitative Analyst Rocky White, Pfizer stock is at the top of the list of the worst stocks to own in January. In the past 10 years, the equity has finished lower eight times, averaging a 4% loss. A comparable move from its current perch at $29.86 would send PFE back toward its all-time lows. Furthermore, long-term pressure at the 60-day moving average is still in place.
An unwinding of optimism could provide headwinds as well. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the security's 10-day call/put volume ratio of 6.22 ranks higher than all other readings from the past year.
Options look like a good way to go when weighing in on Walgreens. Its Schaeffer's Volatility Scorecard (SVS) of 78 out of 100 means the stock usually exceeds volatility expectations.
Read Full Story »»»
DiscoverGold
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