Whenever I see the $TEVA ticker, I’m thinking about those comfortable Teva sandals, but $TEVA is actually Teva Pharmaceutical Industries (NYSE: TEVA). You have to look at $DECK for the other Teva.  $TEVA hit its all-time high $72.31 in July 2015 and has been moving steadily downward since. Yesterday, it fell almost 5% closing at $46.29. It is now very near some serious support with a 75% fib retrace and gap window about a buck lower, and another buck lower from there is a gap fill. You can also see in the weekly chart below the down-sloping trend line coming into play in this area. Anywhere around the $44-$45 area is a screaming buy to me for a quick $2-$3 bounce.

By Pro-Trader

Caralee Carlson