Long

TEVA: Potential monthly bottom spotted

Updated

I'm entering longs here, averaging in gradually. I anticipate a monthly scale rally, back to 54.59 possibly, coming off a double bottom at key support, with an extremely low valuation, and positive news regarding breakthroughs in delaying drug metabolism.

Good luck!

Ivan Labrie

Note

This is looking like a bull trap for now, but I'm willing to let it move for a while longer.

Note

I like how it's acting overall, I will average in until I have a full position.

Note

Weak action, underperforming the market and the sector...I'll wait for the monthly downtrend expiration to reenter longs. Also, watching it after earnings.

Trade closed manually

Note

Up for the day after a smaller range bar, from the bar that prompted me to take my exit...I like it for a reentry here:

Stop: 28.98

Trade active

Note

Bottom's in...monthly downtrend expires now. Expect a 9 month rally now!

Note

Trade closed manually

Waiting for earnings, reports before the open tomorrow. I would like to see what the guidance is, and if viable, go long once more. I am flat currently.

Note

Entered a bit after the open...

From my signals group:
"Buy a 7% position in , stop at 28.57

Seems like we nailed this one guys, let's see how it evolves to add on dips - chart

"

Note

I will reenter this trade tomorrow, ideally on dips.

IvanLabrie

🔒Want to dive deeper? Check out my paid services below🔒

ivanlabrie.substack.com/

Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.