Traders Continue Buying Weakness in Teva Pharma (TEVA)

December 31, 2012 2:48 PM EST
Teva Pharmaceutical Industries (NYSE: TEVA) is lower on the session, but market indicators hint that many are buying the opportunity.

According to recent data, money flow for Teva is $5.46 million favoring uptick purchases. The uptick-to-downtick ratio is 1.24 times.

Shares have been hit since the middle of December, down about 13 percent over the last few weeks.

Indicators also have the pharma being oversold with the 14-bar money flow index moving below the 20 percent threshold. The last time Teva made such a move was last May.

The stock is off just 0.1 percent Monday.

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