Time to go long TEVA again? That's my bet.
This analysis is made with graph on LOG scale.
This shows a very clear upgoing trend, where we are at a great reversal point which would be the end of a retracement wave 2 - Elliot Wave.
On basis of this idea, we should be heading into the third wave going up, normally the largest and strongest wave, see pricetarget, timing is way harder to guess.
Stop loss: previous bottom in edge of channel, around 14.50$, I will still hold that as SL even though it is out of the channel, my experience (not that big) has shown multiple cases (in linear mode) where we get just outside the channel.
This is obviously my perspective on the stock, always do your own DD, use this as inspiration.
Happy trading and investing.
In at 15.75$
This shows a very clear upgoing trend, where we are at a great reversal point which would be the end of a retracement wave 2 - Elliot Wave.
On basis of this idea, we should be heading into the third wave going up, normally the largest and strongest wave, see pricetarget, timing is way harder to guess.
Stop loss: previous bottom in edge of channel, around 14.50$, I will still hold that as SL even though it is out of the channel, my experience (not that big) has shown multiple cases (in linear mode) where we get just outside the channel.
This is obviously my perspective on the stock, always do your own DD, use this as inspiration.
Happy trading and investing.
In at 15.75$
Been close to selling, but a reversal looked plausible in the low 14's, so i stuck with it.
The 14$ is also the last fib. retracement level.