In today’s update, I want to share why TEVA is on my radar. TEVA is a value pharma stock that looks to be gaining strength. I show the breakdown in price following volume signatures. Then I show the potential future price based on current volume signatures.
From the charts…
On the Monthly and Weekly charts, I show how Hawkeye Volume shows buying pressure for the past two months, with price firmly at support in a demand zone. This implies bullishness on the short term.
On the Daily chart, I see a bullish price extension on opposing volume… a key indication of potential reversal or short term correction. Based on the current price, I see TEVA going to $10.15 in the short term. If volume starts to show selling pressure in the supply zone there, I expect a continuation to the downside, back to the $8 support area.
The Hawkeye Perspective
TEVA is on my radar for now. Short term bullish, and long term bearish. This value stock could be a real shining star in 2020. It will be easy to spot if you understand volume and price. Learn to trade the Hawkeye way.
We teach this and other strategies in our upcoming live seminar, called Project V-Swarm Live 2020. We have invited special guests to join us as well, and I’m super excited about what they will bring. Here is the link for more information.
Learn to trade the Hawkeye way.
Join Randy in the next free LIVE Hawkeye Demonstration Room held every Wednesday at 9.30am EST US. You will learn more about volume and volume price analysis and see more examples and live trade setups. It is open to all.