CVS trade ideas
CVS HEALTH CORPORATION Chart DailyHey people, CVS HEALTH CORPORATION is in bullish momentum with a large hammer candle and abnormal acht volume. In the TIMEFRAME M1 we see a marubozu with a large volume of purchases issued, it is in the middle of a range test. Great possibility of breaking out the price and at the same time arranging it to arrive in the one above and go to the next higher. With several high notably (on TIMEFRAME H4) upstream and an excess (on TIMEFRAME H1) Before we start breaking the intermediate median of ANDREWS PICHTFORK. And if the buyers are still in the process, reach the second high verifacation (on the TIMEFRAME H4) with an excess on the TIMEFRAME H1. Little force to arrive at half of the intermediate median of the fork ANDREWS PICHTFORK
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What to do...CVS with such a big hype on vaccine distribution may be a stock to trade. The only thing is technically, it's not great. On the weekly, it has to break out of it's downward trend to confirm bullish behavior. We are most likely to wait until next year to see if things improve for CVS. I'd like to see the stock trade above $72 to go bullish.
History? CVS Long Could CVS repeat history of rallying during November? Or will election year throw a wrench in the market? With the flu season kicking off and the virus combine, perhaps CVS can help with combating the virus and flu. We shall see. A potential correction from the bearish move could give us a slight bullish move back to the 61% fib level which would fall in line with recent fall bullishness.
Snatch This Pair When The Time Is RightHey! So this trade is a super simple trade having to do with Amazon's recent announcement that they will be entering the online pharmacy space. TLDR: go long CVS and short WBA on a pullback in this pair.
While I like this trade long term from a valuation / EPS / brand strength perspective, the catalyst for a new leg up in this ratio was just announced: the entrance of Amazon into the digital pharmacy space. CVS will outperform WBA, and here's why: Last year CVS Health bought AET, the massive health insurance company. This was to diversify its holdings, but also to ensure a steady stream of pharmacy business given that the insurer has a degree of control over its own health network. It can choose to have it's insuree-s get their pills from CVS stores, not Amazon. WBA is floating right now, out in the ether with neither the reputation of Amazon nor the infrastructure of CVS to compete in this space. It is simply outclassed and will continue to underperform the leaders that are well prepared to do battle.
Buy on any pullbacks.
Another potential trade to consider would be Long AMZN and CVS, and Short WBA and RAD, but it's likely that you're already in an Amazon position from another theme so you may not want to over-allocate.
Cheers!
CVS LongWeekly chart
Downtrend channel breakout + Retest Trendline
Double bottom
Retesting the Double bottom neck line.
Entry 67
Stop 60
target1: 80;
target2: 92;
I am not a PRO trader. I need few months to practice trading strategies.
If you like this idea, please use SIM/Demo account to try it, until my trading plans get high winning rate.
CVS longLots of buyer in the 55-65 area.
Tigger occurred when broke out the down trend line.
Wanna wait a little bit to see better opportunity to load near 65. This is not high momentum stock so don't expect that type of move.
Fundamental change is now could be a vaccine play, along with WBA
** $CVS INVERSE HEAD AND SHOULDERS DAILY ** 100 EMA are about to cross the 200 EMA and with this news we could breakout past that neck line. Check it out!!
CVS breaking out of Multi-Year DowntrendCVS is breaking out of a Multi-Year Downtrend since 2015.
CVS has repeatedly bounced off an uptrend line dating back to 2002 (Post-DotCom Bubble).
CVS Fair Value is $100~ based off my discounted Free Cash Flow calculations.
I am long since $61, CVS is my largest position at ~15% of my portfolio.
CVS earnings 11/06 at 6:30amCVS earnings 11/06 at 6:30am
Target $65
3rd Quarter 2020
Consensus: $1.34 eps
Revenue: $66.54 Billion
CVS fundamentals are impeccable: book value = $110B vs $75B = market cap, P/E 9, $15B cash on hand. 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 October 2nd by Morningstar.
almost there but not yet look for a bounce off 51-52 for a long entry ! or grab some puts if support becomes resistance. goodluck <3 leave a like!
CVS trend channel and price action till earnings 11/06Drawing of possible CVS price action heading into earnings on 11/06 pre-market.
CVS: Short term Bullish EntryWith MACD 12 ema signal crossing MACD 26 ema signal on the 39mins timeframe, there is a potential reversal trend change in the short term. This is further supported by the fact that we have a bullish Gartley Pattern. Prices could see $59 to $60 before or after earnings
Rare investment opportunity! CVS Health.CVS Health, monthly chart: 17 years old(!) support line + Great discount: 47%
CVS price target $72 by 11/06 earningsIf you didn't get a chance to get a position in CVS the past week, you may have a brief opportunity to still get an entry price a hair under $60, thanks to Friday's (10/9) brief pullback. My price target for CVS is $72 by 11/06 earnings. I've said it before, but let me re-iterate, CVS is a value stock with very low risk at this current entry price under $60 (10/09 close $59.40). If you want to balance your trading portfolio forward looking for the rest of the year CVS is definitely the stock to consider. Compared to other competitors in the industry, CVS current valuation gives you a great chance to capitalize on it's impending upward momentum heading into Nov 6 earnings & the winter flu season. Comparisons of CVS to Industry are as follows: P/E 9.43 vs 20.15 : P/S .29 vs 8.85 : P/B 1.14 vs 5.97 as you can see CVS truly is a value play. Good luck and happy trading friends...
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.
