CVSH34 trade ideas
CVS breached channel top; buy the pullbackCVS has been on a monster run, and today it breached the top of its long-term downward trending parallel channel. CVS is overbought, so it will probably pull back before moving higher, but the channel breach is a bullish signal that strongly suggests the downtrend is over. I expect CVS to see 100 within a year or two.
$CVS Fundamentally and Technically ReadyCVS is not just a pharmacy anymore, it is a healthcare brand
Minute clinics with healthcare providers, pharmacies, but most importantly, one of the top insurers in the country.
This means from top to bottom, CVS will handle your outpatient visit, insurance claim, and dispense your medication. One stop shop. Their future is bright
Technicals:
Huge inverse head and shoulders developing over the last weeks on the daily.
The hourly has hidden bullish divergences and now looks to be bottoming on the final arm of the pattern.
Slower mover typically so this is a buy and hold with the first target of 74.
"CVS: trying to start a bull move" by ThinkingAntsOkWeekly Chart Explanation:
- Price is on an important Support Zone, close to the Macro Ascending Trendline.
- From here it has potential to move up towards the Top of the Descending Channel.
- We are looking for buy setups on lower timeframes.
Updates coming soon!
CVS to Long, from 53 to 58Existing Condition:
1. 05/17/2019 Weekly demand zone confirmed
2. in 15 min, down trendline break by breakaway Gap (G1)
3. Re-test the Gap, Gap filled.
Entry below 53.2
Stop: 51.8
Target1: 58; Risk:reward=1:3
Target2: 61; Risk:reward=1:5
If G2 (breakwayGap up) breaks the 2nd down trend line. That is a confirmation of trend reversal.
That is another entry point.
This is a trading school homework. I need 6 months to practice trading plan.
If you like it, thank you for your support. Please use SIM/Demo account to try it, until my trading plans get high winning rate.
In my real trade, I use options. I bought Jun 57.5 Call, limit 3.5 (it is 3.2 now).
If stop: lose about 1.00.
Sum of my ideas: 3 active
4 winner, 1 loser, 8 cancelled, 0 pending for condition, 4 analysis only.
$CVS can fall in the next daysContextual immersion trading strategy idea.
CVS Health Corporation has a strong downside trend.
Despite the spread of COVID-19 and the potential to demands rising, the company has some problems with revenue and costs.
This and other conditions can cause a fall in the share price in the next days.
So I opened a short position from $52,31;
stop-loss — $54,73.
Information about take-profits will be later.
Do not view this idea as a recommendation for trading or investing. It is published only to introduce my own vision.
Always do your own analysis before making deals. When you use any materials, do not rely on blind trust.
You should remember that isolated deals do not give systematic profit, so trade/invest using a developed strategy.
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CVS LongCVS is finding support on the 200 monthly ma and some trend lines. It can be looked at that they been making a large bull flag since 2015. Overall fundamentals look good with consistent profit and steady growth. They have a nice dividend of 3.8% currently and have consistently raised their dividend in the past. They showed relative strength in the market today being up 10% while weak sectors sold off.
CVS - weekly chart cycle analysisToday I am going to review the chart for CVS health Corporation on a weekly timeframe. CVS seems to be following in 18 to 19 week cycle and we saw the latest cycle low being formed with the candle reflecting 27 Jan 2020.
On 12th Feb 2020, CVS reported earnings that broadly beat the street’s estimates. CVS reported adjusted EPS of $1.73, which beat estimates of $1.68. The company reported revenue of $66.9B, which also beat estimates of $63.97B. The company forecasted annual EPS from $7.04 – $7.17 in 2020, which was in-line with analyst expectations of $7.15
Lets look at what the charts are suggesting.
CVS has started the upward move as suggested with the beginning of the cycle over the last couple of weeks after bottoming out around $ 67.81 levels.
CVS is in a very bullish intermediate-term cycle pattern with negative momentum. Given these conditions, we would expect short-term sell-offs to be limited to the intermediate Fibonacci support zone beginning at 70.58. There is a likelihood the stock tests 79 by May 2020
Price is inching upwards towards 75-76 levels, which is the first zone of resistance. This level is important resisitance as this reflects previous cycle high (failed upward move) witnessed during Nov 2019 to Mid Jan 2020. Also, this level shows confluence with Fib levels.... 0.786 levels and hence may act as short term resistance . Once this is cleared, next resistance at 81 to 82.5 levels. As indicated in the chart, this is also cycle high and the previous peak levels , where prices failed to hold on and got into a major declining phase. These levels were last witnessed in Nov and Dec 2018.
Price should find support around 69 to 71 levels in the short term.
For the bears to regain control and for us to revisit our belief, we will require a daily price close below 66.73
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CVS is back!After a press release indicating that CVS Health plans to open 600 new Health Hub stores this year, CVS stock has once again been climbing. I suspect the breakout will continue once CVS pushes through some resistance. I'm looking for maybe $78 per share from this run. CVS's forward P/E of about 10.5 is very attractive for a stock with large growth prospects in the next 2 years. We've got a healthcare cost bubble in the USA, and CVS may be on the leading edge of popping that bubble with its low-cost clinic model. It also boasts a roughly 2.5% dividend.
