PharmaMar shows weakness again with “the end of the pandemic”

PharmaMar shows weakness again with “the end of the pandemic”

PharmaMar shows weakness again with “the end of the pandemic”

PharmaMar he continues to fight daily against his own laterality. With a consecutive series of seven alternating sessions, of gains and losses of a similar amount, he sees how the market, at a slow but determined pace, It takes him away from the level of 60 euros per share, a psychological level lost last day 12, with a momentary passage through that price, to lose positions again.

In fact, Needham’s new lurewhich bets on buying the value in the market and gives it a target price of 82 euros per share at the beginning of coverage on the value, gives you a potential bullish tour to PharmaMar that reaches 45%. A great route that, for the moment, is not being felt in the market.

In its price graph we can see how PharmaMar is moving, recovering from its last lows on September 7, although the improvement is not significant. Thus, in the last four listed weeks its negative baggage reaches 6.3% and since mid-August, when the Ibex began to lose strength, it has cut almost 9% in its market price. It maintains, yes, hardly its annual advance close to 2%.

PharmaMar annual stock price
PharmaMar annual stock price
PharmaMar annual stock price

Without great news in recent days about any of its compounds, it has not been good for him the announcement of the president of the United States, Joe Biden who, surprisingly, indicated in an interview on American television that “the pandemic was over”, even though we still have a problem with covid.” Statements closer to those expressed by the World Health Organization, although much more forceful when the incidence of the virus continues in our lives.

A fact that has led pharmaceutical companies to lose positions, in a less favorable environment, for all those related to Covid. PharmaMar, and specifically still maintains clinical trials aimed at a possible treatment for Covid-19, and investigating to combat the possibility of new pandemics arriving in the future, something negative that is reflected in the value.his virology unit,

Regarding the technical behavior of the value, the analyst of Investment Strategies and Professor of the introductory course to technical analysis and trading, José Antonio González highlights that PharmaMar “presents a complicated situation. With a simple moving average of 30 weeks that tends to be a bit positive. However, heThe pricing structure is a declining high-low structure during the last weeks and, therefore, during the last months”

Thus, the technical expert points out that “the situation could even get worse because we have an imminent bearish cut around its medium and long-term moving averages. In this way, the support to watch is 54.98 euros per share. your piercing could automatically lead us to attack the area of ​​46.05 euros. At the top, we would have a slightly clearer situation of purchases, when it exceeds the intermediate resistance area of ​​82.58 euros -77.50. It is a quite complicated situation that continues to present value”.

PharmaMar on weekly (Left) and daily (Right) chart with Average Amplitude Range in percentage, MACD oscillator and trading volume

PharmaMar value technical analysis PharmaMar value technical analysis
PharmaMar value technical analysis

As to the technical indicators prepared by Investment Strategies, we see that the value moves with a total score of just 1 point, clearly down three out of a possible 10 to which the value can aspire. Only positive volatility moves, which is decreasing in the medium and long term, while the trend is bearish in its two aspects, the total moment, is negative fast and slow, while, the volume of business, in its two aspects, moves downward.

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