Teva Pharmaceutical Industries Ltd (TEVA) Technical Analysis

Today we'll analyze the Stock TEVA for online market trading,
Technical indicators to notice:
1- Last bullish trend was from 43.87$ (01/28/08) to 49.65$ (02/26/08) a 5.78$ move
2- The current bearish trend started from 49.65$ at 02/26/08 and is currently trading at 46.32$.

3- The stock current support level is at 46.08 which is the 61.80% fibonacci retracement of the last 5.78$ move.
4- The stock current resistance level is at 46.76 which is the 50.00% fibonacci retracement of the last 5.78$ move.
5- The Stock formed Double Top Pattern at 49.65.
6- The Stock formed a 5.9$ height triangle.
7- According to ADX, the trend is currently bearish,which is becoming weaker.furthermore, the ADX location between DMI+ and DMI- is hinting on a strong move ahead. the stock is very volatile at this point.

Conclusion:
TEVA is currently trading a bearish wave, which is becoming weaker .
Technical indicators and chart patterns show highly volatile movements favoriting bearish direction,
recommend hedging long positions or entering short position or bearish spread options strategy , because of the high expected future volatility, consider constructing symmetrical options strategies for buying volatility through strangles or straddles.
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Resistance Levels: 46.76, 47.11, 47.44, 47.59, 47.99, 48.29, 48.38, 49.65, 49.65, 49.66, 49.70.
Support Levels: 46.08, 43.87, 42.30, 40.30, 43.76, 43.69, 43.59, 43.53, 43.42, 43.04.

Teva Pharmaceutical Industries Ltd (Teva) Technical Analysis

Today we'll analyze Teva Pharmaceutical Industries Ltd stock (Teva) weekly chart for online market trading.

1- weekly MA8 break was an initiation of a bearish move, along the year, Teva currently broke its MA8.


2- RSI is bearish
3- MACD neutral
4- 38% Fibonacci level retracement for the last bullish run from 30.78$ to 48.09$ is 41.48$.

a technical fix for the last bullish move would end befor e41.48$ a break down of 41.48$ would signal a bearish move with first target of 39.44$, solid support and break up of 48$ would invite a long entry to this stock.