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After Yesterday's Rally of 1.56% Shares Could Potentially Pullback

By James Quinn

Teva Pharmaceutical Industries (NASDAQ:TEVA) traded in a range yesterday that spanned from a low of $51.67 to a high of $52.87. Yesterday, the shares gained 1.6%, which took the trading range above the 3-day high of $52.45 on volume of 1.7 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Teva Pharmaceutical Industries share prices have moved between a 52-week high of $72.31 and a 52-week low of $49.51 and are now trading 7% above that low price at $52.82 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has declined 0.5%.

SmarTrend recommended that its subscribers protect gains by selling shares of Teva Pharmaceutical Industries on January 15th, 2016 by issuing a Downtrend alert when the shares were trading at $61.82. Since that call, shares of Teva Pharmaceutical Industries have fallen 16.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders Teva Pharmaceutical Industries

Ticker(s): TEVA