Teva's technical structure created an expanding triangle pattern while breaking new highs with increasing trading volume, a fact which can be interpreted as strengthening the high price at which trading closed on the day a higher record was set. The breakout of wave D will be confirmation of the continued strengthening of the stock price.
A drop below the wave E, price 6000, will cancel the pattern and require a new analysis
Attaching a few words about the company, a company that has suffered severe blows in recent years ranging from illusory deals in South America to huge lawsuits in the US as a result of consumer addiction to opioids, lawsuits that resulted in billions in financial damages as a result of the court rulings that convicted Teva in the opioid case.
Teva offers a full spectrum of products from generics, innovative and biosimilar medicines, to over-the-counter treatments.
Teva was established in 1901. TEVA global headquarters are based in Israel. TEVA have a portfolio of more than 3,600 medicines, and produce approximately 76 billion tablets and capsules a year. TEVA have over 53 manufacturing facilities in more than 33 countries.
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