I am watching to Teva for long time when price was going in trading range. Teva break up the 2 years old resistance. Now it looks like trading range again. My target is around 62-63 USD per share.
First, we must wait for the breakout of the psychological level of 50. After that, wait for a signal from parabolic SAR.
This will mean that we now have a trigger on a short position.
The "time at mode" concepts are shown here:
A trend is when new highs occur every 5-days:
If above the "most frequent price" of a trend, then once above the mode the market can rally by the number of bars as are at the mode.
So, the "17" shows 17-days at one price and the projection is based on the price range from the first to the last bar that are touching...
TEVA: UPTREND
It's hard to see the stock market correction when you look at this stock chart. TEVA has lagged the market for quite some time and it appears to be lifting from a minor correction.
Risk to 44 for short term traders:
Upside to 46.50 for short term:
Tim 1:53PM EST 2/5/2014
