CVS trade ideas
$CVS SWING CVS is one of the few shares that have strong fundamentals and yet undervalued great swing from 67
IRON TARIHi guys!
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Tari.
CVS at resistance - looking for retrace to $70CVS just hit prior resistance with a daily candle matching the previous peak. Not only that, WBA had a breakout of a massive downtrend, but the last two days formed a tweezer top so there is some bearish correlation here. I expect CVS to get rejected from here and move down to the bullish trendline at around $70.
Long Play on $CVSHi All,
I've entered a long position on $CVS.
I believe that COVID-19 vaccine distributions throughout Q1 and Q2 will aid $CVS with additional revenue, giving them the ability to further scale and efficiently grow at a rapid pace.
They are currently sitting at ~ $97B market cap- I expect an additional $40B - $50B of revenue to be added to their income statement ending 2021, accounting for just Q1 and Q2 alone. 328 million people strictly in America need to be vaccinated, COVID will be treated just like the flu- in terms of yearly shots to the doctor or health provider.
I'm entering a long position until my $91.64 limit order hits. GLTA!
I am not a financial advisor, my posts are my opinions and mine only. Please do your own due diligence as well before investing.
New Trend is hereI entered a few weeks ago and pretty confident it made a turn around. You're welcome. GL trading!
CVS Inverse Head and Shoulders3y chart of CVS has been an inverse head and shoulder
The fair market value of this stock is around 90, which is a 30% upside.
The Inv Head and Shoulders + The vaccine being delivered throughout the year, could see 90+ by the end of the year
CVS swing trade ideaCVS swing trading plan :
MACD crossover on the the 4H from a healthy level.
RSI still under 50 : huge potential upside.
67 range is a major volume shelf support and the monthly support.
Levels to watch : 67.08 / 69.28 / 71.50
Price is above the 10MA on both
Reversal and long term continuation Been a frustrating wait but it still seems valid that the chart shows short term daily reversal (pending confirmation )
and a long term uptrend since the company has been around.
Who knows when it will move. its been dropping for one week already.
Anyone else in this laggard ? Perhaps Amazon's recent move really scared everyone away.
I want to believe but...I love everything around CVS right now. The story around vaccine distribution, its p/e ratio vs other consumer discretionary picks, its p/e ratio vs the previous 5 years, but can and will it ever settle above $75 for a true breakout? If not, this channel tells me we are headed back to $50...yikes
Long | CVS NYSE:CVS
Possible Scenario: LONG
Evidence: Tristar Bullish Candlestick
It's my idea and could be wrong 100%
CVS to the moon! CVS is going to be administering the first wave of vaccines, we could see breakout of the this falling wedge and see some bullish momentum, over 75 FOMO will kick in.
Key levels:
Resistance: 73.49, 74.55
Support: 71.08, 69.18, 67.30
My plan:
Safe: 80C 1/15
Lotto: 75C, 80C 12/18
Long play with short opportunitiesWe could see some shorting opportunities with the quadruple witching coming up, it seems all of nasdaq is bearish. If price continues to drop, our next support will be the $61.70 level. If our $61.70 support level holds we could see a little back and forth between those key levels as price tries to retest. We could even see price break $61.70 and test the next support level, but looking at the bigger picture, we're looking forward to a long bullish movement following this short bearish move. Not only is CVS the USA's top pharmacy and playing a huge part in the administration of the COVID-19 vaccine coming very soon, but CVS stock price just recently broke out of a 5 year downtrend that started in August of 2015 when price was at $113/share. That 5 year trendline is also a possible point of interest as price could try to retest it if our support level is broken.
CVS bullish trajectory for possible weekend gap jumpCVS fundamentals are impeccable: P/B 1.48, P/E 12, Div/Yield 2.68%, Q3 revenue $67B, 2020 earnings guidance $7.35-7.45 per share. CVS is the largest pharmacy in the US. 70% percent of the US population lives within three minutes of a CVS store. CVS fair value is $92 updated on November 20 by Morningstar. I entered CVS$73-75strangle12/11 contracts at 3:30pm on 12/4 to have insurance on the low end *just in case. $75call Delta: .44, Theta: .09, $73put Delta: .30, Theta: .07. From the look of it, CVS checks all the boxes: technically, fundamentally & newsworthy are all bullish for CVS. (Bloomberg) CVS Health will administer Eli Lilly's Covid-19 treatment in patients homes and in long-term care facilities through a program with the U.S. government’s Operation Warp Speed, the pharmacy chain said. Lilly’s monoclonal antibody therapy, bamlanivimab, has been found to keep patients in the early stages of Covid-19 from developing more severe disease that requires hospitalization. Do your own due diligence, your risk is 100% your responsibility. You win some or you learn some. Consider being charitable with some of your profit to help humankind. Small incremental steps work : If you double a penny for a month it = $5,368,709. Good luck and happy trading friends...
*3x lucky 7s of trading*
7pt Trading compass:
Price action, entry/exit
Volume average/direction
Trend, patterns, momentum
Newsworthy current events
Revenue
Earnings
Balance sheet
7 Common mistakes:
+5% portfolio trades, risk management
Beware of analysts motives
Emotions & Opinions
FOMO : bad timing
Lack of planning & discipline
Forgetting restraint
Obdurate repetitive errors
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Trading View app!, Brokerage UI
Accurate indicators & settings
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Trading log (pencil & graph paper)
Big organized desk
Reading books, playing chess
Sorted watch-list
Checkout my indicators:
Fibonacci VIP - volume
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pi RSI - trend momentum
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