After breaking down the channel and breaking the first support area CVS is approaching really strong buy Area.
I expect the stock to rebound there and have a nice 2 to 1 ratio buy opportunity.
* 𝗧𝗵𝗲 𝗶𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻 𝗮𝗻𝗱 𝗮𝗻𝗮𝗹𝘆𝘀𝗶𝘀 𝘀𝗵𝗮𝗿𝗲𝗱 𝗶𝗻 𝘁𝗵𝗶𝘀 𝗽𝗼𝘀𝘁 𝗶𝘀 𝗻𝗼𝘁 𝗳𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗮𝗱𝘃𝗶𝗰𝗲. 𝗔𝗹𝘄𝗮𝘆𝘀 𝗰𝗼𝗻𝗱𝘂𝗰𝘁 𝘆𝗼𝘂𝗿 𝗼𝘄𝗻 𝗮𝗻𝗮𝗹𝘆𝘀𝗶𝘀 𝗮𝗻𝗱 𝗿𝗲𝘀𝗲𝗮𝗿𝗰𝗵.
I think CVS has a stable net profit margin and top line. As well it have just formeda triple bottom with the price stabilizing above the 20-day moving average. Long!
$CVS soars after beating the earnings estimates and got upgrader by few analyst.
but the upgrade and good earnings didnt really help to extend it rally this morning.
due to the overall market pulling back, making the CVS conolidate and entering a squeeze.
$CVS average price move per day is about $1.20 to $2.00+ depending on the market volatility.
here's my key...
Looking at the CVS Health Corporation options chain ahead of earnings , I would buy the $87.5 strike price Calls with
2023-2-17 expiration date for about
$1.2 premium.
If the options turn out to be profitable Before the earnings release, I would sell at least 50%.
Looking forward to read your opinion about it.
a little change from my last post... very bullish given the price point, and earnings have indicated they've beat almost every one so far with a huge jump... hopefully a little clearer of time frame and given that CVS is trading at 84 after hours, looking pretty wound up
TICKER: $CVS
TIME FRAME: 1D
STRATEGY: LONG (BULLISH)
I am very bullish on CVS. Earning will be great.
Rejected the trend-line and from here it's going up.
Usually healthcare sector does great during recession.
ChatGpt Fundamental Analysis: Some sectors that are typically considered to be relatively "recession-proof" or that may perform well during a recession...
Long base Cup and Handle forming for CVS. Has high free cash flow yield. Forming the handle and watch if it falls or stay at 1/3 or 30% limit from highest price level.
Now at limit of 84.82. Can't go lower to qualify for Cup and Handle. Note the high volume on weekly so likely to move up. Continue to monitor.
CVS has been incredibly week and leading the decline in healthcare. Often leading stocks will find a near term bottom before the health care sector does.
CVS is one of our potential long plays as we approach the next 1-2weeks.
Sing up for our Trading Capital alerts to know when we buy.
We do also have Bearish Divergence on the monthly and some of the lower timeframes but the stucture looks the smoothest on the 2 week. We have Confimed the Bearish Dragon Breakdown and are working on confirming the 3 Falling Peaks Pattern if we Break Below $86.78
CVS Health Corporation provides health services in the United States. The company's Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services. It serves employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units,...
Could gold be close to a long lasting bottom similar to the last time Commercial Hedgers covered their shorts and went net long? The last two times this happened we had a massive rally in precious metals each time. I do see some interesting variables at play that could prove a bottom in gold is happening.
We have some potential fundamental variables that could...
After breaking a strong bullish rally, the bears have managed to pull the price of the said stock below 0.786 fib retracement level.
Considering another strong bearish candlestick on an hourly chart, the prices are likely to fall below to the 0.618 level. A strong indication for short-selling.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Confirmation level, where relevant, is a pink dotted, finite line. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore...
CVS is shaping up to be a nice short trade for a couple of reasons:
First, CVS broke trendline support, the $100 area, and four major moving averages (9SMA(purple), 21SMA(blue), 50SMA(yellow), 200SMA(orange)
Second is the because it is forming a clean breakdown pattern with an achievable & worth while reward to risk
Last is because CVS is a down trending stock...
