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CVS Has a Very Make-or-Break Setup - Here

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CVS Health to Present at Goldman Sachs 41st Annual Global Healthcare Conference PR Newswire (US) - 6/1/2020 9:44:00 AM
Statement of Changes in Beneficial Ownership (4) Edgar (US Regulatory) - 5/28/2020 4:58:05 PM
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CVS Health Opens 39 New Drive-Thru Test Sites in Virginia as Part of Nationwide COVID-19 Response PR Newswire (US) - 5/28/2020 8:00:00 AM
CVS Health Opens 34 New Drive-Thru Test Sites in Ohio as Part of Nationwide COVID-19 Response PR Newswire (US) - 5/28/2020 8:00:00 AM
CVS Health Expands Statewide COVID-19 Response By Opening 23 Additional New Drive-Thru Test Sites in Georgia PR Newswire (US) - 5/28/2020 8:00:00 AM
CVS Health Opens 22 New Drive-Thru Test Sites in Missouri as Part of Nationwide COVID-19 Response PR Newswire (US) - 5/28/2020 8:00:00 AM
CVS Health Opens 16 New Drive-Thru Test Sites in Michigan as Part of Nationwide COVID-19 Response PR Newswire (US) - 5/28/2020 8:00:00 AM
CVS Health Opens 10 New Drive-Thru Test Sites in Minnesota as Part of Nationwide COVID-19 Response PR Newswire (US) - 5/28/2020 8:00:00 AM
CVS Health Expands Statewide COVID-19 Response By Opening 9 Additional New Drive-Thru Test Sites in Arizona PR Newswire (US) - 5/28/2020 8:00:00 AM
CVS Health Expands Statewide COVID-19 Response By Opening 5 Additional New Drive-Thru Test Sites in Massachusetts PR Newswire (US) - 5/28/2020 8:00:00 AM
CVS Health Expands Statewide COVID-19 Response By Opening 42 Additional New Drive-Thru Test Sites in Texas PR Newswire (US) - 5/28/2020 8:00:00 AM
CVS Health Expands Statewide COVID-19 Response By Opening 29 Additional New Drive-Thru Test Sites in Pennsylvania PR Newswire (US) - 5/28/2020 8:00:00 AM
CVS Health Expands Statewide COVID-19 Response By Opening 30 Additional New Drive-Thru Test Sites in Florida PR Newswire (US) - 5/28/2020 8:00:00 AM
CVS Health Opens 4 New Drive-Thru Test Sites in Maine as Part of Nationwide COVID-19 Response PR Newswire (US) - 5/28/2020 8:00:00 AM
CVS Health Opens 55 New Drive-Thru Test Sites in North Carolina as Part of Nationwide COVID-19 Response PR Newswire (US) - 5/28/2020 8:00:00 AM
CVS Health Expands Statewide COVID-19 Response By Opening 45 Additional New Drive-Thru Test Sites in New Jersey PR Newswire (US) - 5/28/2020 8:00:00 AM
CVS Health Expands Statewide COVID-19 Response By Opening 24 Additional New Drive-Thru Test Sites in Illinois PR Newswire (US) - 5/28/2020 8:00:00 AM
CVS Health Opens 15 New Drive-Thru Test Sites in South Carolina as Part of Nationwide COVID-19 Response PR Newswire (US) - 5/28/2020 8:00:00 AM
CVS Health Expands Statewide COVID-19 Response By Opening 13 Additional New Drive-Thru Test Sites in Maryland PR Newswire (US) - 5/28/2020 8:00:00 AM
CVS Health Opens 10 New Drive-Thru Test Sites in Rhode Island as Part of Nationwide COVID-19 Response PR Newswire (US) - 5/28/2020 8:00:00 AM
CVS Health Opens 7 New Drive-Thru Test Sites in Kentucky as Part of Nationwide COVID-19 Response PR Newswire (US) - 5/28/2020 8:00:00 AM
CVS Health Opens 11 New Drive-Thru Test Sites in Oklahoma as Part of Nationwide COVID-19 Response PR Newswire (US) - 5/28/2020 8:00:00 AM
CVS Health Expands Statewide COVID-19 Response By Opening 36 Additional New Drive-Thru Test Sites in New York PR Newswire (US) - 5/28/2020 8:00:00 AM
CVS Health Expands Statewide COVID-19 Response By Opening 15 Additional New Drive-Thru Test Sites in Louisiana PR Newswire (US) - 5/28/2020 8:00:00 AM
DiscoverGold   Tuesday, 01/14/20 11:56:06 AM
Re: None
Post # of 280 
CVS Has a Very Make-or-Break Setup - Here Is How to Trade It
By: TheStreet | January 14, 2020

• CVS Health has converging support and resistance levels, thrusting shares into a make-or-break setup. Here's how to trade CVS stock now.

CVS Health (CVS) has come a long way from its second-quarter lows near $50, although shares have been relatively stagnant over the past few months.

Walgreens Boosts Alliance's (WBA) recent plunge after missing on earnings has done little to shake CVS stock, although the action certainly hasn’t helped. The stock now sits in a make-or-break position, at least in the short to intermediate term.

Shares gapped higher in November on better-than-expected earnings, and continued higher to a 52-week high of $77.03 later in the month. Since then though, shares have had trouble garnering much upside momentum, falling about 5% from those highs over the last six weeks.

Can CVS stock get back on track? That’s exactly what the Real Money team is trying to answer on Monday, after naming CVS its Stock of the Day.

Let’s look at the charts.

CVS Health is a holding in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells CVS? Learn more now.

Trading CVS Stock


Chart courtesy of Stockcharts.com

The recent action surely has some bulls disappointed in CVS shares. That’s fair, particularly as the rest of the U.S. stock market continues to bombard its way to record highs.

While CVS stock is only a few percent below its 52-week high, it’s well below its all-time high, which sits at just over $100 a share and was set back in mid-2015.

As for the “right now” setup, CVS lacks momentum. Not only has the stock been trending sideways to lower for almost two months, but it’s now below its 20-day and 50-day moving averages. The action has allowed a short-term downtrend mark to form (blue line) as well.

That said, CVS has a longer-term uptrend mark (purple line) and a level of support near $71.50 (black line).

This is where we get our make-or-break takeaway, as both support and resistance are in play and closing in on each other.

If the stock moves lower and closes below $71.50, short-term bullish traders may consider stopping out of the trade and stepping to the sidelines. It will put the stock below all recent support and uptrend marks, leaving room down to the $68 level on a potential decline.

However, if CVS shares are able to clear the $73.75 mark on the upside, hat may fuel a run back up to $77 or higher. A move over $73.75 will propel shares over short-term downtrend resistance, as well as the 20-day and 50-day moving averages. In short, there will be nothing in the way to prevent a run back to its 52-week high.

Read Full Story »»»

DiscoverGold

Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Caveat emptor!
• DiscoverGold
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