TEVA is not very well loved because it's generics have seen competition grow over recent years however if you look at the long term chart, it's actually quite bullish. It has only retraced 50% of it's long term rise which (if held) could be a sign of a reversal to come. It's currently battled it's 15month EMA which historically had been support and is now resistance. If it can get through that, $45 will be next. I really like this for a reversal higher however (think Obamacare prescriptions). While I wish I had gotten in near $36, I'm in now (1/2 size) and will add more on any lower break overall risking 10%
| |
Comments