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TEVA Falling Wedge

by Jason Ramus More from this expert: Articles Blogs Videos
Posted 2010/07/29 15:10:00, 0 Comments

TEVA has been selling off the last 2 weeks and appears to be in a falling wedge which could a bullish pattern as for sometimes the stock will break to the upside above the upper trend line. TEVA is also near the lower end of the trend line and could bounce off it. These are trades that I like because of the risk vs reward. Below is a 15 min chart of TEVA and look for a bounce off the lower trend line levels of around $46.50- $47.00 levels. Also if the stock continues to break below the lower trend line then this could be a failed pattern.

Happy Trading

Jason Ramus

TradingViews.com

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