Pharma Stocks Wrap Up - Flat: FRX, NVO, MRK

Published on Thursday, 02 September 2010 13:13 Written by Gerard Lerod

New York, September 2nd (TradersHuddle.com) - At the half of the trading session tha market is trading higher with the S&P 500 adding 0.51%. Stocks of Pharmaceutical Companies , with NYSE Drug index at 291.43, which represents -0% versus the previous tradings session close. The Drug index is trading mixed with upside bias with 11 out of 15 components trading higher.

So far the sector's top performer today is Forest Laboratories (NYSE:FRX) currently trading at $29.04 representing 5.04%. versus the previous trading session price action. Forest Laboratories, the maker of branded and generic forms of ethical drug products, shares have defined support at $26.92 and resistance at $28.78.

Novo Nordisk (NYSE:NVO) is also among the top performers, currently trading at $88.25 representing 0.57% from its previous close. Novo Nordisk, the Denmark based biopharmaceutical company focused on diabetes care has calculated support and resistance levels at $81.15 and $90.63 respectively. The other top performer is Pfizer (NYSE:PFE), which is trading at $16.34 representing 0.37% from the previous trading session.

The sector's worst performer at the mid point of the trading session is Merck (NYSE:MRK) that is trading at $35.33 or -0.81% from the previous close. Merck, the maker of Singulair and Zocor shares have defined support at $34.41 and resistance at $35.99. Also among the worst performers is Novartis (NYSE:NVS), which is trading at $52.99 representing -0.58% from the previous trading session.