CVS trade ideas
CVS: Double BottomCVS: Double Bottom
TP 1 @$61.73 or price increase up to 3.35%
TP 2 @$64.40 or price increase up to 7.84%
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Bottom Fishing Falling WedgeThe Falling Wedge is a bullish pattern that begins wide at the top and contracts as prices move lower. This price action forms a cone that slopes down as the reaction highs and reaction lows converge. In contrast to symmetrical triangles, which have no definitive slope and no bias, falling wedges definitely slope down and have a bullish bias. However, this bullish bias cannot be realized until a resistance breakout occurs.
A Falling Wedge fit into a reversal pattern at the bottom, but can also fit into the continuation category. As a continuation pattern, the falling wedge will still slope down, but the slope will be against the prevailing uptrend. As a reversal pattern, the falling wedge slopes down and with the prevailing trend. Regardless of the type (reversal or continuation), falling wedges are regarded as bullish patterns.
This could fall further but long term support not far below price
Not a recommendation
CVS double bottom bullish reversalGet ready for a transition into value over the next 2 weeks. The confirmation for this breakout is a close above the upper trend line of the double bottom (59.24), with above average volume (50ML). Regardless of the exact day to enter this week of 9/28, current entry point ($57.32 9/25 close) is fantastic with little historical risk on the down side below $60 anyhow. Once this bullish pattern is confirmed CVS will at least hit $70 by 11/20/2020, historically CVS gains +-20% from the end of September to the end of November. CVS fundamentals are impeccable: book value = $110B vs $75B = market cap, P/E 9, EPS 2.26, $15B cash on hand. CVS is the largest pharmacy in the US. Seventy percent of the U.S. population lives within three minutes of a CVS store. CVS fair value is $92 updated on August 9th by Morningstar. For an options play I would pile up the November 20th Calls while they're still on discount. Good luck and happy trading friends.
CVS wedges (falling) bullish from 9/28 to 11/20Get ready for a transition into value over the next 2 weeks. The confirmation for this pattern is a close above the upper descending trendline on above average daily volume (10M). Regardless of the exact day to enter this week 9/28, current entry point ($57.32 9/25 close) is fantastic with little historical risk on the down side below $60 anyhow. Once this bullish pattern of wedges falling is confirmed CVS will at least hit $70 by 11/20/2020, historically CVS gains +-20% from the end of September to the end of November. CVS fundamentals are impeccable: book value = $110B vs $75B = market cap, P/E 9, EPS 2.26, $15B cash on hand. CVS is the largest pharmacy in the US. Seventy percent of the U.S. population lives within three minutes of a CVS store. CVS fair value is $92 updated on August 9th by Morningstar.
CVS Potential Breakout Off 4hourPotential Breakout Off
Hull Moving Average
SMA
Support from March 2013 Breakout
CVS is going to runIt is very oversold right now and starting to make a run. It has analyst support. I am long the Nov 20 $60 calls. I think you could even come in a little closer on the strike price but I was being careful in this volatility. Good Luck!
Busted Ascending Triangle Bottom FishingDown she goes. A lot of red. Not sure how much more selling there can be.
Set my alert to let me know when the bottom comes
Happy trading
Buying opportunity in CVS after Walgreens earnings bombCVS is pulling back in sympathy with Walgreens after WBA earnings were a dud. However, the adverse impact on Walgreens sales was "almost entirely from the company's non-U.S. businesses," according to the company's report. CVS operates almost exclusively in the United States, with 9,750 US locations and just 150 internationally. This suggests that CVS should be relatively insulated from the fall-off in international demand that Walgreens saw.
CVS is in almost every way a better company than Walgreens. It has better analyst ratings, better financial health, and a much better valuation in terms of PEG ratio. Its dividend yield and dividend growth are lower, but its growth plan has been more aggressive, with the rollout of HealthHub stores and telehealth services continuing on schedule amidst the pandemic. Walgreens has lagged behind CVS in its plans to add healthcare clinics to its retail stores. CVS's relationship with UPS may prove an additional tailwind amidst the pandemic. Walgreens partners with UPS's smaller competitor, FedEx.
$CVS - setting up nicely for an explosive move. Squeezing here.
1. IVP - 11%
2. IV - 29%
The breakout can be significant.
The options are a bit manipulated. So, build your position accordingly.
Buy the Volatility here. Spreads such as Back Ratio Spread, Buying Iron Condor / Iron Fly.
Below is an example.
For less experienced trader
BUY +1 IRON CONDOR CVS 100 (Weeklys) 11 SEP 20 65.5/69.5/65.5/61.5 CALL/PUT @2.50 LMT
For an experienced trader
BUY +1 1/1/-1 CUSTOM CVS 100 (Weeklys) 11 SEP 20/11 SEP 20/11 SEP 20 65/65/61 CALL/PUT/PUT @3.20 LMT
Both are done for a debit. Strictly close 1 week prior to expiration.
The risk is, This stock can squeeze for a month. However I feel like this will explode in 2 weeks.
CVS also seem in a good position to the upsideNot a volatility name. But keep in mind the yellow down trend line is a monthly resistance. Could profit from realized volatility over implied.
$CVS breaking out of major downtrend $CVS on the daily is breaking out of a major down sloping fib channel ducc haz had plotted for months now. 4hr painting a potential inverse h&s reversal pattern, punp it
cvs doesn't look goodLooks like CVS is in a consolidation period. Distribution is more likely being that there's more selling than buying. ER estimates also appear to be too high to hit and all the indicators are pointing down. I would open a position after earnings but if i had to call it right now it looks bearish for CVS. The ceiling is at 67$ and the floor is 60$
ABC Bullish S TriangleI think earnings are on 8-5 but it says "estimated. Double check that
I have owned this for a long time. It tends to be a slow mover but to me it is in the "safe" category..if there is such a thing as safe!
Stop under C
Not a recommendation
CVS Bullish FlagRose in uptrend and seemed to break trend and formed a bullish flag horizontal channel. Breakout after this consolidation
CVS Breakout!CVS is technically and fundamentally strong!
BUY BUY BUY
8.5x Forward Earnings
1.29 Price to Book
5x EBIDTA
9.7x EV / EBITDA
+3% Dividend Yield
