Teva to 30$ TEVA was saved by the 50 weeks MA line.
The stock is now back above a weekly uptrend line.
If it will hold above it and close above it... chances are that we will see TEVA advancing towards 30$
Tevapharmaceutical
Teva possible break-outToday is possible that Teva may break the upside line of the descending channel as drawn in the picture. In this case, first TP1 is fixed at 25.14 dollars, TP2 at 27,74.
A Technical Analysis Look at TEVA Stock Any TEVA stock price falling on or below the hypothesized mean of $22.00, will signal the initiation of a buy order. On the other hand, any price rising above the hypothesized mean of $22.00 or within the range of $22.00 to $23.26 and above, will signal the initiation of a sell order. As of writing this Technical Indicator article, (November 5, 2018) the price of TEVA hit a low of $21.98, which is well within our target range of initiating a buy order.
Therefore, if we had bought the stock at our hypothesized buy range of $22.00 or below, we would have made a nice profit of $0.85 (cents) per share because the stock closed at a $22.85 per share, a change of $0.26 (cents) per share, which is a 1.15% change for the day (November 5, 2018).
Not only that, an early morning trade right after the market opened at 9:45 am would have given us a nice gain of $1.26 per share if we had followed our Mstardom Finance trading strategy of closing our long position or shorting the stock when it got to our range’s upper limit garget of $23.26.
As soon as the price hit our $23.26 target, we would’ve had to exit the trade because in trading, greed causes traders to lose money, so as wise traders, we would’ve exited the trade several minutes before the stock got to its high point of $23.34. The Mstardom Finance community doesn’t care about a few extra pennies when we already got a sizable gain in our basket.
The good thing is that this Mstardom Finance Trading Strategy is still relevant at the present time and in the not-so-distant future, once the hypothesized mean and the character of the TEVA stock stays the same.
We are able to deduce such optimism because the stock has a very low volatility characteristic, based on our analytical assessment lend to us by our proprietary strategy.
All we at Mstardom Finance cares about is helping the retail trader make money. So, when you hop over to Mstardom Finance, you will see articles, posts, and trading tools that provide the little retail trader with resources and information that will help him or her compete with the institutional or professional trader. This is what our upcoming trading book will be about, preventing the retail trader from being victims of the financial markets.
Please click here to read the rest of the article, which includes a look at TEVA Fundamentals and how it has affected the movement of the stock
Disclosure: (R) Mstardom Finance, Mstardom Finance does not provide investment advise.
