Thursday, September 05, 2019 12:51:52 PM
Dark clouds are hovering over Teva Pharma Industries (TEVA) but light is starting to shine through. Let me blow your mind with this simple analysis. First, let’s set the scene. On August 15th, 2019, Teva made a new multi-decade low at $6.07. Since then the stock has inched higher. Yesterday, news broke that Mallinckrodt (MNK), another opioid maker announced they may have to file for bankruptcy. In a 1 for 1 world, this should have been devastating for Teva, the worst news yet for the sector. Teva should have been crushed and taken out the $6.07 low from August 15th. However, it did not and has rallied sharply off the morning lows. This is VERY bullish for Teva Pharma.
The general rule states: When a stock does not make lower lows on worse news, accumulation in the shares is has started and is heavy (usually by institutions).
If big institutions are accumulating shares of Teva, thus not enabling it to make new lows, this is extremely bullish for shares of Teva Pharma Industries. It should signal a turning point in the stock and maybe for the sector. I could fill your head with lots of other things like countless technical indicators like MACD or RSI that are oversold. But the clearest signal is Teva not making a lower low on worse news for the sector. This is simple analysis but extremely effective. The upside target on this is $10 in the next month or so. A year from now, we could be talking about Teva at $25 or higher.
Gareth Soloway
InTheMoneyStocks
Recent TEVA News
- Teva to Present at the 2024 Bank of America Healthcare Conference • Business Wire • 05/02/2024 10:30:00 PM
- Teva’s 2023 Healthy Future Report Showcases Renewed Sustainability Strategy and Ambitious Targets • Business Wire • 05/02/2024 12:30:00 PM
- U.S. Commercialization Agreement with Quallent to Drive Patient Savings with First High-Concentration Citrate-Free Interchangeable Biosimilar to Humira® (adalimumab) • GlobeNewswire Inc. • 04/30/2024 08:00:00 AM
- U.S. Commercialization Agreement with Quallent to Drive Patient Savings with First High-Concentration Citrate-Free Interchangeable Biosimilar to Humira® (adalimumab) • Business Wire • 04/30/2024 08:00:00 AM
- Alvotech and Teva Announce U.S. FDA Approval of SELARSDI™ (ustekinumab-aekn), biosimilar to Stelara® (ustekinumab) • Business Wire • 04/16/2024 09:43:00 PM
- Alvotech and Teva Announce U.S. FDA Approval of SELARSDI™ (ustekinumab-aekn), biosimilar to Stelara® (ustekinumab) • GlobeNewswire Inc. • 04/16/2024 09:30:00 PM
- Teva’s New Real-World Evidence Presented at the 2024 AAN Annual Meeting Confirms Effectiveness and Patient Satisfaction for HD Chorea with the 4-week Titration Kit for AUSTEDO® (deutetrabenazine) Tablets • Business Wire • 04/16/2024 12:00:00 PM
- Teva Confirms Efficacy and Safety of AJOVY® (fremanezumab) for the Prevention of Migraine With Results from Phase 3 Trial in China • Business Wire • 04/11/2024 12:30:00 PM
- Teva to Host Conference Call to Discuss First Quarter 2024 Financial Results at 8 a.m. ET on May 8, 2024 • Business Wire • 04/09/2024 08:30:00 PM
- New Pharmacokinetic Modeling Data Presented by Teva Simulates Clinical Profiles of Schizophrenia Patients Switching to UZEDY® (risperidone) Extended-Release Injectable Suspension at SIRS 2024 • Business Wire • 04/06/2024 05:00:00 PM
- Teva and mAbxience Announce Strategic Global Licensing Agreement for Oncology Biosimilar Candidate • Business Wire • 04/04/2024 12:30:00 PM
- Clinical Collaboration Agreement between Teva and Launch Therapeutics to Accelerate Development of Dual-Action Asthma Rescue Inhaler (ICS-SABA/TEV-’248) Respiratory Program; Teva and Abingworth Enter Strategic Development Funding Agreement • Business Wire • 04/01/2024 12:30:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/07/2024 09:27:55 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/07/2024 09:24:19 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/07/2024 09:20:32 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/07/2024 09:16:46 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/07/2024 09:12:19 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/07/2024 09:08:28 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/05/2024 09:46:42 PM
- Form 3 - Initial statement of beneficial ownership of securities • Edgar (US Regulatory) • 03/05/2024 09:43:55 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/05/2024 09:39:07 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/05/2024 09:35:36 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/05/2024 09:30:16 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/05/2024 09:27:46 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/05/2024 09:25:00 PM
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