Pfizer: Big Pharma struggles in the post-COVID times

Pfizer Inc. shares have reached their lowest levels since March 2020, during the height of the coronavirus pandemic. Since the beginning of 2023, the issuer's securities have declined due to reduced revenue from drug and COVID-19 vaccine sales.

However, Pfizer's potential is not exhausted, as the company intends to introduce a new drug called Danuglipron to combat excess weight in the coming weeks.

So today, let's look at the Pfizer Inc (NYSE: PFE) stock chart.

On the D1 timeframe, support formed at 28.93, and resistance moved to 31.39. Quotes consolidated above the crucial level of 30.14.

On the H1 timeframe, if there is a rebound from the 30.14 level, the target for a price increase can be placed at 33.98. In the medium term, the price could potentially reach 40.15.

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