$CVS Setting Up as Undercut & Reverse (U&R)?

Updated

released news today that Blue Cross of CA will no longer use them for prescription management. As a result, we have a big sell-off which may be overdone. TBD. I am looking at this as a potential U&R. I have it measured against the most recent lowest low of $66.34. I have an alert set crossing over $66.40. If that triggers and on a 5-minute chart and it looks bullish I’ll enter with a stop just below $66.34. This is a higher risk trade; however, risk can be minimized by using a stop just under that lowest low. Let’s see what happens. It may just continue to fall. I do not know.

Ideas, not investing / trading advice. Comments welcome. Thanks for looking.

Trade active

Stopped in this morning @ 66.65. My stop is just under pre-market lows... just under 1% risk. Let's see what happens.

Trade closed manually

This thing is just lagging. Money is better in, say, of which I am long and looking to add. Lost $0.20 per share.

jaxdog

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I may or may not take any trade published and I am under no obligation to post any action or update to any idea.

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