Teva Pharmaceutical Industries Limited (TEVA): Watch Out For Technical Signs

Teva Pharmaceutical Industries Limited (NYSE:TEVA) fell by -0.82% in Wednesday’s trading session from $15.89 to $15.76. The price has been moving in both directions for this period, and there has been a -10.56% loss over 10-day period. There was a decrease in both volume and price. This is usually interpreted as a good sign as traders widely believe falling stock should see declining volume. Traded activity experienced a fall of -3.79 million shares and in total 8.57 M shares exchanged hands for about $135.08 million.

Inside TEVA’s Recent Trend

Teva Pharmaceutical Industries Limited (TEVA) lies in the middle of a very wide and falling trend in the short term and pointed towards extra losses. Short-term traders are anticipated to see a retreat of -48.89% over the course of a quarter and, with 90% chance the price will be floating in the range of $3.05 and $9.34 in this timeframe.

Teva Pharmaceutical Industries Limited Technical Signals

TEVA has witnessed its long term and short term MA triggering a sell signal. Many traders watch for long-term averages to cross above short-term averages to signal the beginning of a downtrend. Upon corrections, the price will meet resistance from the averages between $16.28 and $16.80. A buy signal will be generated if it crosses above any of these levels. The downbeat movement of both volume and price during the recent session is interpreted as a good sign because traders usually believe falling stock should see declining volume.

Teva Pharmaceutical Industries Limited (NYSE:TEVA) Support And Resistance Levels

Teva Pharmaceutical Industries Limited (TEVA) recorded volume accumulation so there will probably be a surplus of buyers at $15.68. In case of gains, the next resistance from accumulated volume will not be far away from today’s level at $16.08, $18.50 and $18.59.

Accumulated volume is going to prevent the price from rising further at $16.08 and this action will lead the price to take a temporary pause or stay muted for a few days.

Teva Pharmaceutical Industries Limited (TEVA) Risk Assessment

A volatility based measure Bollinger Bands suggests this stock poses high risk. In the most recent session, the stock price hovered around $0.25 between high and low, or 1.59%. The average volatility for the past week stood at 2.34%.

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