Trading idea for CVS Health Corp. stocks (06/12/2023)
CVS Health Corp. revised its forecast for revenue in 2024 upward to 366 billion USD. In addition, the issuer announced an increase in dividend payments by 9.9%. Such moves boost the attractiveness of the company's shares; moreover, the inevitable emergence of new diseases promises increased sales for CVS Health.
So, today, we decided to look at the CVS Health Corp. (NYSE: CVS) stock chart.
On the D1 timeframe, support has formed at 66.01, with resistance at 71.34. A breakthrough of resistance could lead to the beginning of a medium-term uptrend.
On the H1 timeframe, a breakout from the 71.34 level could set the target for a price increase to 77.29, while in the medium term, it could hover around 84.90, influenced by the "Santa Claus rally".
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Ideas and other content presented on this page should not be considered as guidance for trading or an investment advice. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67.85% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
So, today, we decided to look at the CVS Health Corp. (NYSE: CVS) stock chart.
On the D1 timeframe, support has formed at 66.01, with resistance at 71.34. A breakthrough of resistance could lead to the beginning of a medium-term uptrend.
On the H1 timeframe, a breakout from the 71.34 level could set the target for a price increase to 77.29, while in the medium term, it could hover around 84.90, influenced by the "Santa Claus rally".
—
Ideas and other content presented on this page should not be considered as guidance for trading or an investment advice. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67.85% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.