TEVA Teva Pharma Daily Chart Oversold Falling Wedge Positive Divergence

TEVA Teva Pharma daily chart setting up to take a nice bounce. Most stocks and tickers these days are all topping and rolling over on both a daily and weekly basis and deserve the bear treatment. But, there are always some countertrend plays around. TEVA keeps working down into that falling wedge, it's oversold, and it has nice positive divergence in place ready to pop price upwards. On a long term basis, the 48 level is critical, if price loses that level Katy bar the door, best to run first and ask questions later.

However, with this chart profile, TEVA appears to be setting up nicely to bounce from the 48.0 to 48.5 level. Price may even do a simple intraday spike low to this area and then take the rocket ride skyward. The December low is 48.5 so if price can simply move to that level, only 60 cents lower from Friday's close, that will create the official positive divegence and all systems go for the upside. Once it bounces many gaps above need filled, one so big you can drive a truck thru it, the others make the falling wedge look like a swiss cheese wedge. Looking good long at 48.0-48.5 with a 51.0 target to start, under 48 and run for the hills. This information is for educational and entertainment purposes only.  Do not invest based on anything you read or view here or any links connected to this information. Consult your finanical advisor before making any investment decision.