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SmarTrend Watching for Potential Rebound in Shares of Teva Pharmaceutical Industries After 1.51% Loss

By James Quinn

Teva Pharmaceutical Industries (NASDAQ:TEVA) traded in a range yesterday that spanned from a low of $27.96 to a high of $28.72. Yesterday, the shares fell 1.5%, which took the trading range below the 3-day low of $28.06 on volume of 5.3 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Teva Pharmaceutical Industries share prices have moved between a 52-week high of $72.31 and the current low of $27.95 and are currently at $27.99 per share. 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 recommended that its subscribers protect gains by selling shares of Teva Pharmaceutical Industries on March 7th, 2017 by issuing a Downtrend alert when the shares were trading at $32.93. Since that call, shares of Teva Pharmaceutical Industries have fallen 13.5%. 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