Pfizer Inc (NYSE:PFE) is trading down 1.30% at 43.89 

Pfizer Inc (NYSE:PFE) and BioNTech SE (NASDAQ:BNTX) said on Monday their COVID-19 vaccine induced a robust immune response in 5 to 11 year olds, and they plan to ask for authorization to use the vaccine in children in that age range in the United States, Europe and elsewhere as soon as possible.

The companies said the vaccine generated an immune response in the 5-to-11-year-olds in their Phase II/III clinical trial that matched what they had previously observed in 16-to-25-year-olds. The safety profile was also generally comparable to the older age group, they said.

“Since July, paediatric cases of COVID-19 have risen by about 240 percent in the U.S. – underscoring the public health need for vaccination,” Pfizer Chief Executive Albert Bourla said in a news release.

“These trial results provide a strong foundation for seeking authorization of our vaccine for children 5 to 11 years old, and we plan to submit them to the FDA and other regulators with urgency.”

Top U.S. health officials believe regulators could make a decision on whether the shot is safe and effective in younger children within three weeks of the companies submitting a request for authorization, two sources told Reuters earlier this month.

On technical fronts Pfizer Inc (NYSE:PFE) RSI stood at 36.37 and currently stock is trading below all Moving Average. So, SELL position can be taken with following target and stoploss:

TRADE SIGNAL – : Pfizer Inc (NYSE:PFE) – SELL : 43.89, TARGET: 42.65, STOP LOSS : 44.48