The Hourly View for TEVA
At the time of this writing, TEVA’s price is down $-0.01 (-0.11%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as TEVA has now gone down 4 of the past 5 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on TEVA. Given that we see an uptrend on the 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
TEVA’s Technical Outlook on the Daily Chart
Currently, TEVA’s price is up $0.24 (2.55%) from the day prior. This is a reversal of the price action on the previous day, in which price moved down. Regarding the trend, note that the strongest trend exists on the 50 day timeframe. Regarding moving averages, it should first be noted that price has crossed the 20 day moving average, resulting in them being above it. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. Teva Pharmaceutical Industries Ltd’s price action over the past 90 days can be seen via the chart below.
For TEVA News Traders
News traders keeping an eye on TEVA may find value in this recent story:
NEW YORK, Dec. 1, 2020 /PRNewswire/ — Teva Pharmaceuticals has partnered with Villyge to create a four-part series of workshops for their employees to support better work-life integration in light of the challenges associated with the COVID pandemic. Workshops will help employees review…
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