New Trend is hereI entered a few weeks ago and pretty confident it made a turn around. You're welcome. GL trading!
CVS trade ideas
CVS Inverse Head and Shoulders3y chart of CVS has been an inverse head and shoulder
The fair market value of this stock is around 90, which is a 30% upside.
The Inv Head and Shoulders + The vaccine being delivered throughout the year, could see 90+ by the end of the year
CVS swing trade ideaCVS swing trading plan :
MACD crossover on the the 4H from a healthy level.
RSI still under 50 : huge potential upside.
67 range is a major volume shelf support and the monthly support.
Levels to watch : 67.08 / 69.28 / 71.50
Price is above the 10MA on both
Reversal and long term continuation Been a frustrating wait but it still seems valid that the chart shows short term daily reversal (pending confirmation )
and a long term uptrend since the company has been around.
Who knows when it will move. its been dropping for one week already.
Anyone else in this laggard ? Perhaps Amazon's recent move really scared everyone away.
I want to believe but...I love everything around CVS right now. The story around vaccine distribution, its p/e ratio vs other consumer discretionary picks, its p/e ratio vs the previous 5 years, but can and will it ever settle above $75 for a true breakout? If not, this channel tells me we are headed back to $50...yikes
Long | CVS NYSE:CVS
Possible Scenario: LONG
Evidence: Tristar Bullish Candlestick
It's my idea and could be wrong 100%
CVS to the moon! CVS is going to be administering the first wave of vaccines, we could see breakout of the this falling wedge and see some bullish momentum, over 75 FOMO will kick in.
Key levels:
Resistance: 73.49, 74.55
Support: 71.08, 69.18, 67.30
My plan:
Safe: 80C 1/15
Lotto: 75C, 80C 12/18
Long play with short opportunitiesWe could see some shorting opportunities with the quadruple witching coming up, it seems all of nasdaq is bearish. If price continues to drop, our next support will be the $61.70 level. If our $61.70 support level holds we could see a little back and forth between those key levels as price tries to retest. We could even see price break $61.70 and test the next support level, but looking at the bigger picture, we're looking forward to a long bullish movement following this short bearish move. Not only is CVS the USA's top pharmacy and playing a huge part in the administration of the COVID-19 vaccine coming very soon, but CVS stock price just recently broke out of a 5 year downtrend that started in August of 2015 when price was at $113/share. That 5 year trendline is also a possible point of interest as price could try to retest it if our support level is broken.
CVS bullish trajectory for possible weekend gap jumpCVS fundamentals are impeccable: P/B 1.48, P/E 12, Div/Yield 2.68%, Q3 revenue $67B, 2020 earnings guidance $7.35-7.45 per share. CVS is the largest pharmacy in the US. 70% percent of the US population lives within three minutes of a CVS store. CVS fair value is $92 updated on November 20 by Morningstar. I entered CVS$73-75strangle12/11 contracts at 3:30pm on 12/4 to have insurance on the low end *just in case. $75call Delta: .44, Theta: .09, $73put Delta: .30, Theta: .07. From the look of it, CVS checks all the boxes: technically, fundamentally & newsworthy are all bullish for CVS. (Bloomberg) CVS Health will administer Eli Lilly's Covid-19 treatment in patients homes and in long-term care facilities through a program with the U.S. government’s Operation Warp Speed, the pharmacy chain said. Lilly’s monoclonal antibody therapy, bamlanivimab, has been found to keep patients in the early stages of Covid-19 from developing more severe disease that requires hospitalization. Do your own due diligence, your risk is 100% your responsibility. You win some or you learn some. Consider being charitable with some of your profit to help humankind. Small incremental steps work : If you double a penny for a month it = $5,368,709. Good luck and happy trading friends...
*3x lucky 7s of trading*
7pt Trading compass:
Price action, entry/exit
Volume average/direction
Trend, patterns, momentum
Newsworthy current events
Revenue
Earnings
Balance sheet
7 Common mistakes:
+5% portfolio trades, risk management
Beware of analysts motives
Emotions & Opinions
FOMO : bad timing
Lack of planning & discipline
Forgetting restraint
Obdurate repetitive errors
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Trading View app!, Brokerage UI
Accurate indicators & settings
Wide screen monitor/s
Trading log (pencil & graph paper)
Big organized desk
Reading books, playing chess
Sorted watch-list
Checkout my indicators:
Fibonacci VIP - volume
Fibonacci MA7 - price
pi RSI - trend momentum
www.tradingview.com
CVS HEALTH CORPORATION Chart DailyHey people, CVS HEALTH CORPORATION is in bullish momentum with a large hammer candle and abnormal acht volume. In the TIMEFRAME M1 we see a marubozu with a large volume of purchases issued, it is in the middle of a range test. Great possibility of breaking out the price and at the same time arranging it to arrive in the one above and go to the next higher. With several high notably (on TIMEFRAME H4) upstream and an excess (on TIMEFRAME H1) Before we start breaking the intermediate median of ANDREWS PICHTFORK. And if the buyers are still in the process, reach the second high verifacation (on the TIMEFRAME H4) with an excess on the TIMEFRAME H1. Little force to arrive at half of the intermediate median of the fork ANDREWS PICHTFORK
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What to do...CVS with such a big hype on vaccine distribution may be a stock to trade. The only thing is technically, it's not great. On the weekly, it has to break out of it's downward trend to confirm bullish behavior. We are most likely to wait until next year to see if things improve for CVS. I'd like to see the stock trade above $72 to go bullish.
History? CVS Long Could CVS repeat history of rallying during November? Or will election year throw a wrench in the market? With the flu season kicking off and the virus combine, perhaps CVS can help with combating the virus and flu. We shall see. A potential correction from the bearish move could give us a slight bullish move back to the 61% fib level which would fall in line with recent fall bullishness.
Snatch This Pair When The Time Is RightHey! So this trade is a super simple trade having to do with Amazon's recent announcement that they will be entering the online pharmacy space. TLDR: go long CVS and short WBA on a pullback in this pair.
While I like this trade long term from a valuation / EPS / brand strength perspective, the catalyst for a new leg up in this ratio was just announced: the entrance of Amazon into the digital pharmacy space. CVS will outperform WBA, and here's why: Last year CVS Health bought AET, the massive health insurance company. This was to diversify its holdings, but also to ensure a steady stream of pharmacy business given that the insurer has a degree of control over its own health network. It can choose to have it's insuree-s get their pills from CVS stores, not Amazon. WBA is floating right now, out in the ether with neither the reputation of Amazon nor the infrastructure of CVS to compete in this space. It is simply outclassed and will continue to underperform the leaders that are well prepared to do battle.
Buy on any pullbacks.
Another potential trade to consider would be Long AMZN and CVS, and Short WBA and RAD, but it's likely that you're already in an Amazon position from another theme so you may not want to over-allocate.
Cheers!
CVS LongWeekly chart
Downtrend channel breakout + Retest Trendline
Double bottom
Retesting the Double bottom neck line.
Entry 67
Stop 60
target1: 80;
target2: 92;
I am not a PRO trader. I need few months to practice trading strategies.
If you like this idea, please use SIM/Demo account to try it, until my trading plans get high winning rate.
