Pfizer Rallies Off Cancellation Of Allergan Merger

Pfizer PFE shares are trading higher by $0.88 at $31.60 in Tuesday's session. The Street is applauding the cancellation of its merger with Allergan AGN.

In a volatile session, the issue has found support just under Monday's close ($30.72), reaching $30.58 and rallying firmly into the $31 handle. It is now approaching its January 8 high of $31.63. There may be additional resistance at the pair of highs from January 6 ($31.90) and January 7 ($431.81).