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databaseguy17
Feb 7, 2021 4:51 AM

CVS - Weekly still downtrend in channel but close to reversal Long

NYSE:CVS1D
CVS Health CorporationNYSE

Description

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On the weekly we still have a little to go to the bottom of the channel. When we hit 69.84 we'll possible see an uptrend to 79 with likely resistance at 76.83.

Trade closed: stop reached

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Looks like CVS broke out of channel and broke support. Hit stop.
Trend AnalysisSupport and Resistance
Comments
Bearypatch
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With earnings on the 16th, I doubt it goes all the way down to $69, think the reversal will happen this week.
databaseguy17
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@tradinghandhall, thanks for the feedback. We shall see. Lots of people looking to add this at a discount.
Bearypatch
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@databaseguy17, I added a lot of contracts right before close. Different expirations.
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