TEVA has formed a nice V bottom. Over the past few days it has stayed on its upward trend line. On the daily, weekly and monthly charts the stock looks good. My profit target is the closure of the august gap. My stop would be any break of the trend line. Why? because bottoming is a process.... that can take a long time and have many head fakes. I think this is a good company, but buying and holding good companies is not my trading style...it is my investing style....but those are two different things. My advice go long with the trade and possibly add it to your receiving dogs of the dow portfolio if you do that kind of thing.
Weekly chart
Notice Stock RSI has flatlined above 80. MACD continues to trend up. OBV is undergoing a nice recover. The price action looks good and has stayed on its trend line.
Monthly chart
Notice MACD is angling upward for an upwards cross. Stoch RSI has just shot upwards. OBV looks good
Weekly chart
Notice Stock RSI has flatlined above 80. MACD continues to trend up. OBV is undergoing a nice recover. The price action looks good and has stayed on its trend line.
Monthly chart
Notice MACD is angling upward for an upwards cross. Stoch RSI has just shot upwards. OBV looks good