Sector Round Up - Pharmaceuticals Declined: TEVA, NVS, BMY

Published on Tuesday, 07 September 2010 16:58 Written by Gerard Lerod

New York, September 7th (TradersHuddle.com) - The market ended the trading session lower with the S&P 500 losing 1.15%. Stocks of Pharmaceutical Companies also traded lower, with NYSE Drug index ending the trading session at 292.78, which represents -0.38% versus the previous tradings session close. The Drug index had widespread weakness with 3 out of 15 components trading higher.

The sector's top performer today was Teva (NASDAQ:TEVA) closing the trading session at $53.12 representing 2.59%. versus the previous trading session price action. Teva, the largest generic drug maker in the world, shares have defined support at $46.99 and resistance at $50.78.

Novartis (NYSE:NVS) was also among the top performers, closing the trading session at $53.29 representing 0.36% from its previous close. Novartis, the Basel, Switzerland based pharmaceutical company has calculated support and resistance levels at $48.30 and $53.44 respectively. The other top performer was Bristol-Myers Squibb (NYSE:BMY), which closed the trading session at $26.61 representing 0.11% from the previous trading session.

The sector's worst performer today was Pfizer (NYSE:PFE) that closed the trading session at $16.33 or -8% from the previous close. Pfizer, the pharmaceutical company maker of Viagra and Lipitor shares have defined support at $14.00 and resistance at $16.60. Also among the worst performers was King Pharmaceuticals (NYSE:KG), which closed the trading session at $9.06 representing -1.74% from the previous trading session.