TEVA (Teva Pharmaceuticals) was added as an Active Long Swing Trade on a breakout above the bullish falling wedge pattern back on May 12th. That breakout proved to be a false breakout /whipsaw signal before one last thrust down with the bullish divergences still very much intact. From there, TEVA went on to make a solid & sustained breakout above the bullish falling wedge & closed around the 32.50ish resistance level on Friday. Previous & updated daily charts below: As the stock is quite overbought on the short-term time frames coupled with the fact that it closed at resistance [...]
The following notes & charts outline the entry criteria, price targets, suggested stop & beta-adjustment to a position size in TEVA, Teva Pharmaceutical Industries.
An overview of some of the recent individual stock & sector trade ideas, both long & short, shared on Right Side Of The Chart. For those wanting to skip ahead to a particular trade idea, the following stocks & ETFs are covered in this order: CARA, TEVA, USRM, CLVS, NVDA, LI.V, LIACF, PBYI, PTLA, TINY, FCEL, HIMX, SMH, XSD, SOXX, XLF, GLD & GDX.
TEVA is breaking above downtrend line... watching for an expansion in volume as well as a solid 60-minute close above. Also keep in mind the increase in whipsaw signals around the year-end holidays. Also note that prices are now at the 130-ema which could act as resistance. Unofficial trade idea only. Horizontal lines overhead are resistance levels/potential price targets. 60-minute chart: TEVA 60-minute Dec 22nd
An overview of some of the unofficial swing trade ideas posted in the Trading Room (9 longs & 1 short). The following trade candidates are discussed in this order: MNKD, TEVA, WFM, FCEL, GPRO, AMKR, IONS, CARA, STNG & PIOI.