Pfizer (PFE) was trading higher Monday on reports that its oral diabetes drug, referred to as PF-07081532, led to faster weight loss than weekly injections of Novo Nordisk's (NVO) antidiabetic drug Ozempic, used also as an anti-obesity medication for long-term weight management.
Let's check out a few charts and indicators.
In this updated daily bar chart of PFE, below, I can see that prices have been in a downward trend since November. Prices trade below the declining 50-day moving average line and the declining 200-day line. Trading volume has been active in recent months and today's volume is heavy.
The daily On-Balance-Volume (OBV) line has been in a long decline but is starting to show a turn to the upside. The 12-day price momentum study shows higher lows from January for a bullish divergence. A slower decline in price for PFE is a sign of scale-down buying by longer-term investors.