TEVA.US - Weekly
Our expectations: Price in long-term downward trend, after successful adjustment to strong resistance levels and key downward break. SL: 23.60.
Alternative Scenario: If the price moves above the resistance zone, the negative scenario will break and more likely to see stock price growth.
Comment: After we started building a long-term short position last week, we are now giving our first opportunity to add to the short ones.
TEVA.US - Opportunity for long-term Short-Trade
The price has triggered a Double Top formation and has passed a key area of support, now a resistance. There is a breakthrough in the long-term correction channel and the price drop below 200SMA. Price Action: Gap in the downward direction, which at the same time takes the price below a key level of support, negative for the price. Given the large sell-offs on the stock markets, I think the sale of the Israeli pharmaceutical company will get deeper, and the current levels comfortable to add to the SLs: 23.60.
Read more:
25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256
World Financial Markets - 0700 17 600 Varchev Exchange - 0700 115 44
Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.
Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006
The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Disclaimer:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.