Sunday, December 17, 2017

ALERT: Bullish Inverse Head & Shoulder Breakout On Teva Pharma (TEVA)

Shares of Teva Pharmaceutical Industries Ltd (NYSE:TEVA) have finally put in a near-term low. The stock is jumping over 3.5%, but more importantly, broke-out of a bullish inverse head and shoulder pattern. The breakout signals further upside. I have a penciled target in of $20.35. Teva Pharmaceutical Industries has fallen sharply of late, dropping from near $33.00 to $17 in the last few weeks. The bounce I expect is only a near-term move, over the next month or so. Once the upside target is achieved, exit and look to buy the pull back.

Gareth Soloway

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