TEVA - Tenkan sen is about to cross death of Kijun sen is a bad sign. In addition, both lines are about the get into cloud means increased volatility ahead, struggling inside the cloud. TEVA is a sell here.
Above MA50 and MA200 (with a hope it will stay above it).
Next target is 12$.
Below 10$, I save the respect to 8.95 with price closing.
Not for a suggestion.
Teva seems to have the cup with handle pattern.
The next resistance line is at 13.50 ish, so until then it looks like teva will rise up and then bounce back a little bit to 11/12. It may also be possible that Teva can reach 20 in September
TEVA shares are popping to start off the week as the company gets into the middle of the chloroquine emphasis to battle the COVID-19 outbreak. The longer-term picture is defined by the potential for fresh momentum after successfully holding key support.
In my experience trendly / volatile stocks have a tendency to have significant long term reversals from wedges and general downtrendline breaks. Extremely interested to see where this goes, if it does end up breaking out bullishly. Company could begin a new bull run, or simply reach target and mean revert.
I've been thinking the bottom was near considering Teva is a pharmaceutical company. With the news of Israel shutting down (with exception of grocery/pharmacy) due to the Corona Virus, we may have the catalyst we needed for a reversal. Business will not be effected and opiate settlement will be hard to continue to fight with governments needing all pharma on deck....
Teva will donate 6 Million tablets through wholesalers to hospitals by March 31, and more than 10 Million within a month
Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) announced today the immediate donation of more than 6 million doses of hydroxychloroquine sulfate tablets through wholesalers to hospitals across the U.S. to meet the urgent demand for...
