Trade Alert - Pfizer High Volume
Published on Friday, 11 May 2012 11:38 Written by TradersHuddle Wire
New York, May 11th (TradersHuddle.com) - Unusual high volume detected on shares of Pfizer, Inc. (NYSE:PFE) early in the trading session. The pace in volume of Pfizer is already above average, with buyers stepping in, as the stock is 1.69% higher.
Pfizer Inc. (NYSE:PFE), the global pharmaceutical company that develops, manufactures, and markets medicines for humans and animals. The Company's products include prescription and non-prescription pharmaceuticals, and animal health products such as anti-infective medicines and vaccines. Some of Pfizer blockbuster drugs are Celebrex for arthritis pain, and inflammation and acute pain, Viagra for erectile dysfunction, and Lipitor for elevated cholesterol levels in the blood. The company was founded in 1849 and is headquartered in New York, NY.
Pfizer has already traded 1.358 times its 3-month average volume and has calculated support and resistance at $21.95 and $23.30 respectively. Traders like to use volume as their lie detector for price action movement through predefined trading ranges.
The overall market index S&P 500 is trading higher by 0.44% from its previous trading close, which means that Pfizer stock is outperforming the overall market.
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