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SmarTrend Watching for Potential Rebound in Shares of Teva Pharmaceutical Industries After 1.45% Loss

By Shiri Gupta

Teva Pharmaceutical Industries (NASDAQ:TEVA) traded in a range yesterday that spanned from a low of $50.16 to a high of $51.60. Yesterday, the shares fell 1.5%, which took the trading range below the 3-day low of $50.84 on volume of 3.4 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

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 17.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

In the past 52 weeks, Teva Pharmaceutical Industries share prices have been bracketed by a low of $50.00 and a high of $72.31 and are now at $50.45, 1% above that low price. 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%.

Keywords: rebounders Teva Pharmaceutical Industries

Ticker(s): TEVA