Followers | 690 |
Posts | 143940 |
Boards Moderated | 35 |
Alias Born | 03/10/2004 |
Thursday, September 01, 2022 11:19:09 AM
By: Schaeffer's Investment Research | September 1, 2022
• CVS just pulled back to a historically bullish trendline
• The equity is marginally lower in 2022
CVS Health Corp (NYSE:CVS) stock has taken a step back on the charts, after a mid-August rally lost steam just above the $107 level, coming shy of its Feb. 8, annual high of $111.25. However, CVS could make another move towards its 2022 highs, and chip away at its 3.5% year-to-date deficit, given the equity is trading near a historically bullish trendline.
According to Schaeffer's Senior Quantitative Analyst Rocky White's latest study, CVS Health stock is within one standard deviation of its 40-day moving average. The security has seen nine similar signals over the past three years, and was higher one month later 78% of the time, averaging a 5.1% gain for that period. A similar move from its current perch of $99.53 would place the equity back above the $104 region.
The shares appear to be overdue for a short-term bounce. This is per CVS Health stock’s 14-day Relative Strength Index (RSI) of 27.5, which sits firmly in "oversold" territory.
An unwinding of pessimism in the options pits could provide additional tailwinds. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), CVS’ 10- and 50-day put/call volume ratios of 2.25 and 1.46, respectively, stand in the 97th and 100th percentiles of their annual ranges. This means puts have been getting picked up at a faster-than-usual clip of late.
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
Recent CVS News
- Aetna 2025 Medicare plans focus on most important health needs for members • PR Newswire (US) • 10/01/2024 12:00:00 PM
- Nio, CVS Health Should Rise; Stellantis Weak • IH Market News • 09/30/2024 01:09:43 PM
- CVS Health supporting customers, patients, members and colleagues as Hurricane Helene approaches • PR Newswire (US) • 09/25/2024 01:00:00 PM
- Form 3 - Initial statement of beneficial ownership of securities • Edgar (US Regulatory) • 09/19/2024 09:29:08 PM
- CVS Health announces quarterly dividend • PR Newswire (US) • 09/19/2024 03:02:00 PM
- CVS Pharmacy® launches birth control prescribing in Massachusetts • PR Newswire (US) • 09/12/2024 01:00:00 PM
- CVS Health supporting customers, patients, members and colleagues as Tropical Storm Francine approaches • PR Newswire (US) • 09/10/2024 07:43:00 PM
- Shareholders of CVS Health Corporation Should Contact The Gross Law Firm Before September 10, 2024 to Discuss Your Rights - CVS • PR Newswire (US) • 09/09/2024 02:32:00 PM
- The Gross Law Firm Notifies CVS Health Corporation Investors of a Class Action Lawsuit and Upcoming Deadline - CVS • PR Newswire (US) • 09/05/2024 09:45:00 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/03/2024 09:47:27 PM
- CVS Health Corporation Sued for Securities Law Violations - Investors Should Contact The Gross Law Firm for More Information - CVS • PR Newswire (US) • 08/29/2024 10:05:00 AM
- Updated flu and COVID-19 vaccinations now available at CVS Pharmacy® and MinuteClinic® • PR Newswire (US) • 08/28/2024 12:00:00 PM
- Aetna first major insurer to expand and simplify access to fertility services • PR Newswire (US) • 08/27/2024 12:00:00 PM
- Class Action Filed Against CVS Health Corporation (CVS) Seeking Recovery for Investors - Contact The Gross Law Firm • PR Newswire (US) • 08/26/2024 09:45:00 AM
- Shareholders of CVS Health Corporation Should Contact The Gross Law Firm Before September 10, 2024 to Discuss Your Rights - CVS • PR Newswire (US) • 08/22/2024 09:45:00 AM
- CVS Pharmacy® introduces colleague-designed journals • PR Newswire (US) • 08/21/2024 12:00:00 PM
- CVS Health Corporation Sued for Securities Law Violations - Investors Should Contact The Gross Law Firm Before September 10, 2024 to Discuss Your Rights - CVS • PR Newswire (US) • 08/19/2024 09:45:00 AM
- Google Mandated to Modify Play Store, Apple Innovates, Victoria’s Secret Hires CEO, Mars Buys Kellanova • IH Market News • 08/15/2024 10:05:46 AM
- Google Forced to Modify Play Store, Apple Innovates, Victoria’s Secret Hires CEO, Mars Buys Kellanova • IH Market News • 08/15/2024 10:05:46 AM
- CVS Health Corporation Class Action: The Gross Law Firm Reminds CVS Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of September 10, 2024 - CVS • PR Newswire (US) • 08/15/2024 09:45:00 AM
- CVS Health Names Heidi Capozzi Executive Vice President, Chief People Officer • PR Newswire (US) • 08/14/2024 08:00:00 PM
- CVS Health Foundation joins forces with organizations at City Center to improve health outcomes in Fresno • PR Newswire (US) • 08/14/2024 05:00:00 PM
- AM Best Revises Issuer Credit Rating Outlooks to Stable for Most of CVS Health Corporation’s Aetna Inc. Subsidiaries • Business Wire • 08/14/2024 02:39:00 PM
- Class Action Filed Against CVS Health Corporation (CVS) - September 10, 2024 Deadline to Join - Contact The Gross Law Firm • PR Newswire (US) • 08/08/2024 09:45:00 AM
Transforming Alzheimer's Treatment: Innovative Combinations to Boost Cognition • PFE • Oct 2, 2024 9:00 AM
Unitronix Corp Unveils Cryptocurrency Investment Portfolio Strategy • UTRX • Oct 2, 2024 8:40 AM
Integrated Ventures, Inc Reports Total 2024 Revenues Of $5,863,935 vs $3,862,849 for 2023. • INTV • Oct 1, 2024 9:00 AM
Nightfood Signs Letter of Intent to Acquire Los Angeles Cooking School, Integrating Automation and Robotics with World-Class Culinary Training • NGTF • Oct 1, 2024 8:30 AM
ZenaTech, Inc. (NASDAQ: ZENA) To Commence Trading Today • COOP • Oct 1, 2024 7:00 AM
Element79 Gold Corp secures loi for launching tailings reprocessing business in Arequipa, Peru • ELMGF • Oct 1, 2024 6:38 AM