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Teva Pharmaceutical Industries Limited (TEVA) “On a long-term technical basis, the stock (TEVA) is trading below its 200-day moving average which implies it is in a negative trend. The stock has broken down through support at 10.92, so look for new support at 8.23.
The stock has support at 8.95 and 8.49. If the stock breaks down through support at 8.95 then it will probably continue lower to 8.49. The stock has resistance at 10.03 and at 10.64. If the stock breaks up through resistance at 10.03 then it will probably continue higher to 10.64. The 200-day moving average is at 10.64. This will also act as resistance. The stock is extremely overbought according to the Stochastic Indicator (81.67), so look for a possible pullback soon. Confirm this with the Short-Term and Daily Opinion to keep from exiting prematurely.”
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