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SmarTrend Watching for Potential Rebound in Shares of Teva Pharmaceutical Industries After 1.93% Loss

By James Quinn

Teva Pharmaceutical Industries (NASDAQ:TEVA) traded in a range yesterday that spanned from a low of $53.61 to a high of $54.83. Yesterday, the shares fell 1.9%, which took the trading range below the 3-day low of $54.03 on volume of 1.8 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Teva Pharmaceutical Industries has traded in a range of $48.01 to $72.31 and is now at $53.80, 12% above that low. 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 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.

Keywords: rebounders Teva Pharmaceutical Industries

Ticker(s): TEVA