Saturday, April 20, 2019 4:06:54 PM
1) The biotech sector, XBI, was down sharply (~35%) from the beginning of September of last year till late December of last year, and:
2) TEVA was being squeezed by a very high debt load which really needed to be refinanced.
Why things look better for TEVA now:
1) That refinancing was just finalized, so its financial condition is improved.
2) Looking at only the last 6 trading days, XBI declined significantly and all six candles had red bodies; but on a relative basis, TEVA traded much better during those days (per bottom chart).
3) On the last day, XBI formed a Southern Doji, meaning there was overall indecision but there were more bullish trades than bearish trades. That long lower shadow is signalling that XBI (and therefore TEVA) really wants to reverse and go higher.
4) Finally, the first chart below illustrates XBI's Sup/Res levels, and it shows that XBI is sitting on a ton of support at $84; and that will support the reasoning that TEVA should also go higher as there is no reason why it should not follow XBI higher.
This bottom chart (above) shows that TEVA could easily stall at $15.70 and $17. In other words, it will likely trade in a channel for awhile. That's why we trade (and not buy-&-hold).
Recent TEVA News
- Teva Presents New Phase 3 Efficacy, Safety and Tolerability Data from SOLARIS Trial Evaluating TEV-‘749 (olanzapine) as a Once-Monthly Subcutaneous Long-Acting Injectable for Adult Patients Diagnosed with Schizophrenia • GlobeNewswire Inc. • 09/21/2024 08:15:00 AM
- New Data Provide Treatment Insights into Options for Switching Adult Patients Diagnosed with Schizophrenia to UZEDY® (risperidone) Extended-Release Injectable Suspension from Perseris® (RBP-7000) • GlobeNewswire Inc. • 09/21/2024 08:10:00 AM
- Teva to Present at the Bank of America 2024 Global Healthcare Conference • GlobeNewswire Inc. • 09/11/2024 08:30:00 PM
- GameStop plunges 11% on stock offering, DJT drops post-debate, GSK fails shingles vaccine trial • IH Market News • 09/11/2024 10:25:41 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/04/2024 11:40:42 AM
- Teva to Present at the Morgan Stanley 22nd Annual Global Healthcare Conference • GlobeNewswire Inc. • 08/26/2024 09:00:00 PM
- Form 144/A - Report of proposed sale of securities: [Amend] • Edgar (US Regulatory) • 08/14/2024 11:06:00 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/13/2024 08:09:34 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/13/2024 08:06:50 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/13/2024 08:02:28 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 08/09/2024 07:59:27 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 07/31/2024 08:06:33 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/31/2024 11:00:57 AM
- Teva Announces Strong Growth in Second Quarter Revenues mainly driven by Generics Products in All Regions and AUSTEDO®; Raises 2024 Financial Guidance • GlobeNewswire Inc. • 07/31/2024 11:00:00 AM
- US Index Futures Up Ahead of Fed Decision; Oil Prices Surge Amid Middle East Tensions • IH Market News • 07/31/2024 10:01:30 AM
- Teva and Sanofi Announce Accelerated Timeline for Anti-TL1A Phase 2b Program in Patients with Inflammatory Bowel Disease • Business Wire • 07/25/2024 05:30:00 AM
- Teva Announces First Phase 3 Evidence of Efficacy and Safety of an Anti-CGRP Monoclonal Antibody in Children in AJOVY® (fremanezumab) SPACE Trial for Prevention of Episodic Migraine • Business Wire • 07/18/2024 12:30:00 PM
- Teva to Host Conference Call to Discuss Second Quarter 2024 Financial Results at 8 a.m. ET on July 31, 2024 • Business Wire • 07/02/2024 10:00:00 PM
- Les nouvelles données portant sur AJOVY® (fremanezumab) dans la prévention de la migraine remettent en question les pauses thérapeutiques • Business Wire • 06/28/2024 10:34:00 PM
- Neue Daten zu AJOVY® (Fremanezumab) zur Migräneprävention stellen Behandlungspausen in Frage • Business Wire • 06/28/2024 07:41:00 PM
- New AJOVY® (fremanezumab) Migraine Prevention Data Challenges Treatment Pauses • Business Wire • 06/28/2024 03:30:00 PM
- Teva Reaches Agreement With the Israel Tax Authority to Resolve All Pending Litigation for the Company's Taxable Years 2008-2020 • Business Wire • 06/25/2024 12:00:00 PM
- Teva Announces Launch of Authorized Generic of Victoza® (liraglutide injection 1.8mg), in the United States • Business Wire • 06/24/2024 01:50:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/17/2024 12:03:34 PM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM