Teva Pharmaceutical Industries Limited Stock Forecast
Stronger technical forecast for Teva Pharmaceutical Industries Limited stock price after Wednesday trading.
(Updated on May 01, 2024)
The Teva Pharmaceutical Industries Limited stock price fell by -0.463% on the last day (Wednesday, 1st May 2024) from $14.05 to $13.99. During the last trading day the stock fluctuated 3.21% from a day low at $13.70 to a day high of $14.14. The price has risen in 6 of the last 10 days and is up by 6.11% over the past 2 weeks. Volume has increased on the last day by 1 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 9 million shares were bought and sold for approximately $132.75 million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 7.86% during the next 3 months and, with a 90% probability hold a price between $13.96 and $16.02 at the end of this 3-month period.
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TEVA Signals & Forecast
The Teva Pharmaceutical Industries Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $13.60 and $13.65. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -0.82%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Teva Pharmaceutical Industries Limited stock
Teva Pharmaceutical Industries Limited finds support from accumulated volume at $13.50 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.440 between high and low, or 3.21%. For the last week, the stock has had daily average volatility of 3.51%.
Our recommended stop-loss: $13.53 (-3.25%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (TEVA) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Teva Pharmaceutical Industries Limited to open at $13.94, and during the day (based on 14 day Average True Range), to move between $13.60 and $14.37, which gives a possible trading interval of +/-$0.389 (+/-2.78%) up or down from last closing price. If Teva Pharmaceutical Industries Limited takes out the full calculated possible swing range there will be an estimated 5.57% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $14.10 (0.82%) than the support at $13.50 (3.47%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
Teva Pharmaceutical Industries Limited will release earnings BMO on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.510. We will update the financials statements for Teva Pharmaceutical Industries Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 8.06% in the first trading day after earnings release.
Is Teva Pharmaceutical Industries Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Teva Pharmaceutical Industries Limited stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.310 Buy Candidate Upgraded
Predicted Opening Price for Teva Pharmaceutical Industries Limited of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $13.94 ( 0.310%) | $13.99 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TEVA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.38 | 2.84 % | |
| R2 | 14.21 | 1.63 % | ||
| R1 | 14.11 | 0.89 % | ||
| Current price: | 13.99 | |||
| Support | S1 | 13.77 | -1.51 % | |
| S2 | 13.67 | -2.25 % | ||
| S3 | 13.50 | -3.46 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.43 | 3.18 % | |
| R2 | 14.11 | 0.89 % | ||
| R1 | 14.10 | 0.82 % | ||
| Current price | 13.99 | |||
| Support | S1 | 13.50 | -3.47% | |
| S2 | 13.30 | -4.90% | ||
| S3 | 12.91 | -7.69% |
TEVA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 02, 2017 | Nov 27, 2017 | Dec 12, 2017 | $0.0850 | 0.515% |
| 2 | Aug 07, 2017 | Aug 25, 2017 | Sep 14, 2017 | $0.0850 | 0.463% |
| 3 | May 11, 2017 | Jun 01, 2017 | Jun 22, 2017 | $0.340 | 1.05% |
| 4 | Feb 13, 2017 | Feb 28, 2017 | Mar 20, 2017 | $0.340 | 1.01% |
| 5 | Nov 15, 2016 | Dec 01, 2016 | Dec 20, 2016 | $0.340 | 0.94% |
FAQ
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