pool adsManaging Risk in Teva Pharmaceutical #TEVA by Using Price Action
The #priceaction in Teva Pharmaceutical (NASDAQ: TEVA) can help investors find #opportunity and integrate #riskmanagement tools. Stock Traders Daily has demonstrated that in this article. Review The plans for TEVA below, and you will see how this works. Keep in mind, this data is current, but it is not real time. If you want a real time updates, or data on a different stock, please get one here Unlimited Real Time Reports.
Technical Summary
| Term → | Near | Mid | Long |
|---|---|---|---|
| Rating | Strong | Weak | Neutral |
| P1 | 0 | 0 | 9.08 |
| P2 | 9.96 | 10.17 | 10.47 |
| P3 | 10.39 | 10.67 | 12.02 |
Support and Resistance Plot Chart for TEVA
Long Term Trading Plans for TEVA
May 9, 2021, 9:15 am ET
The Technical Summary and Trading Plans for TEVA help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this TEVA Report.
TEVA - (Long) Support Plan
The technical summary data tells us to buy TEVA near 9.08 with an upside target of 10.47. This data also tells us to set a stop loss @ 9.05 to protect against excessive loss in case the stock begins to move against the trade. 9.08 is the first level of support below 10.4 , and by rule, any test of support is a buy signal. In this case, support 9.08 would be being tested, so a buy signal would exist.
TEVA - (Short) Resistance Plan
The technical summary data is suggesting a short of TEVA as it gets near 10.47 with a downside target of 9.08. We should have a stop loss in place at 10.5though. 10.47 is the first level of resistance above 10.4, and by rule, any test of resistance is a short signal. In this case, if resistance 10.47 is being tested, so a short signal would exist.
Blue = Current Price
Red= Resistance
Green = Support
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