Daniel.B
Long

Long at retracement to support

NYSE:CVS   CVS HEALTH CORP
79 1 3
Well this is one of the stocks I like to trade at least 2-3 times every quarter. I'll keep this brief because I'm at work lol. But as you can see the stock made a new high followed by a retracement to support at the 106 /108 area. So I entered long yesterday during the New York lunch hour. My initial target is 112.50 - 113.00. Stops are below 104.10.

Cheers, and best of luck! =D


Notes:
Some confirmations that you can look for is an MA cross between the fast / slow moving averages, currently resistance is at the 20-day moving average. A daily close above gives more conviction to the position. Also price has found support at the 50-day moving average which adds a little more confidence to the position. Historically when the 9 / 20 MA's make a bearish crossover it has payed well to start looking to buy the dip below the cross.
Update: Exited the trade at a small loss. Cheers =)
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