ChangeWave.com Home Page
Market Overview
 
Dow 8,952.89 -81.80
 
NASDAQ 1,628.03 -4.18
 
S&P 927.45 -4.35


Services Tools Corporate
January 5, 2009

Chart Of The Day: Teva Pharmaceutical Industries (TEVA) Is Good Medicine for A Long-Term Portfolio

November 13, 2007

By Sam Collins




Teva Pharmaceutical Industries Ltd. (TEVA) -- This global healthcare company specializing in pharmaceuticals has taken a real beating along with most of the pharma group.

On Feb. 13, the Chart of the Day said, "[Teva] has signaled the third proprietary buy signal (CBR) and that from a triple bottom with a succession of closes above the 200-day moving average. A breakout over $36 has a target of $42."

The breakout occurred and the price target was achieved. But the long-term chart on TEVA shows that it could break from a big double-top with a new price objective of more than $60.



Sam Collins is ChangeWave's Chief Technical Analyst and a Registered Investment Adviser who manages portfolios for a fee. He can be reached at samailc@cox.net.