Shares of Teva Pharmaceutical Industries (NYSE:TEVA) have finally put in a near-term low. The stock is jumping over 3.5% but more importantly, it has broken-out of a bullish inverse head-and-shoulder pattern. The breakout signals further upside. I have a penciled target in of $20.35. Teva Pharmaceutical Industries has fallen sharply of late, dropping from near $33.00 to $17 in the last few weeks. The bounce I expect is only a near-term move, over the next month or so. Once the upside target is achieved, exit and look to buy the pull back.
