Teva Pharmaceutical Industries Ltd (ADR) TEVA shares are trading higher by $1.50 (4 percent) at $33.69 in Monday's session. The catalyst for the rally is a Q4 EPS beat of $0.03 along with a revenue beat of $24 million. The company significantly raised FY 2017 EPS and revenue guidance.
As with any other severely beaten down issue (peaked in July 2015 at $72.31), investors are still tepid. After a higher open, it peaked within the first minute of the session at $33.80 and began to retreat. That marks the highest level for issue since it peaked on February 6 at $34.49.
Since making that high, it has drifted lower but has yet to reach the upper-end Friday's range ($32.50), so far only reaching $33.25. Major support in the issue comes in at the $32.00 area, where the issue has made its lows the four previous sessions.
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