After Yesterday's Rally of 1.03% Shares Could Potentially Pullback
Teva Pharmaceutical Industries (NASDAQ:TEVA) traded in a range yesterday that spanned from a low of $50.66 to a high of $51.63. Yesterday, the shares gained 1.0%, which took the trading range above the 3-day high of $51.10 on volume of 2.7 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
Over the past year, Teva Pharmaceutical Industries has traded in a range of $48.01 to $72.31 and is now at $51.59, 7% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.5% while the 200-day MA has slid 0.3%.
SmarTrend is tracking the current trend status for Teva Pharmaceutical Industries and will alert subscribers who have TEVA in their portfolio or watchlist when shares have changed trend direction.
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