Ascending triangle in the making
RSI and MACD are sells right now
Look for a drop in the next few days to 77 within the ascending triangle range, then up and out from there
Fundamentally, CVS is one of my favorite companies. It will transform the healthcare space (overview below)
CVS officially closed on its Aetna deal over the last few weeks.
Most are unaware ...
were correctly counted. What was not expected was the 5th wave of the Leading Diagonal extending past the Top Rail. Nonetheless, expect a small drop to retest the top rail breakout and if it passes, wave (III) should take CVS to new heights.
For CVS I see a pattern on daily view
Inside bar At Upper BB then the fall
A Good entry might around 71.30 tomorrow or above assuming everything is OK.
As they like to delay the pattern recently Aug24/31 68 puts will be Good. As for You to be Quick ITM 71 puts Will be Good too
Should have posted this sooner, but have been shot down several times this year when getting constructive on this name
-CVS may finally be ready to break out
-The stocks been stuck for most of 2018; falling backwards each time it's attempted a run, usually due to some headline (Amazon getting in the space for example)
-Strong earnings and fundamental story; ...
CVS bounced off its support at 63.28 (76.4% Fibonacci retracement, 100% Fibonacci extension x2, multiple swing low support) where it could potentially rise up to its resistance at 67.58 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance).
Stochastic (89, 5, 3) bounced off its support at 3.6% where a corresponding rise could ...