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4CVS trade ideas

CVS Long Term Reversal Forming?CVS has been beatdown over the last few months but seems to have found a strong support around the 66-67 area and has been trying to stay above the 70 range. It recently gapped back down under 70 because of NASDAQ:WBA (Walgreens) poor guidance. If it can beat this key level and bounce of this support and its moving averages then we can expect CVS to reverse the trend. Confirmation is still needed so we will watch what happens over the next month.
NYSE:CVSLong
by LateGameBaller
$CVS Finally Breaking Out?Back on April 6, 2023, I posted a NYSE:CVS chart as it was looking like a breakout then and I started a small position. It quickly failed the that day, and I was out. Fast forward to yesterday June 1 and I determined it was breaking out of the long term down trend again, so I added a starter position. It’s following through today, so I’ve added more and brought it up to a half-sized position. See my notes on the chart. This may be an actionable name “if” it fits with your trading style. My stop is tight. I will close out if it closes below yesterday’s low ($68.05). This is about a good as risk reward as I have found for awhile now. (As a side note, the downtrend is a stage 4 it is unlikely that it will flip to a stage 2 right away. I’m simply looking for a trade and will close out if it starts to stumble, hopefully with a nice 10% to 15% gain or more.) Ideas, not investing / trading advice. April 6 chart link below Thanks for looking. Constructive comments welcome.
NYSE:CVSLong
by jaxdog
4
Long CVS Part 2 - 18.98 R/R!Multi-Week swing trade. CVS is forming a potential Cup & Handle on the daily time frame. Because of the upcoming ex-dividend date, it will be dividend adjusted. Entry: 74.40 (White line support) Stop: 73.90 PT: 83.89 Risk to Reward (R/R): 1:18.98 Trade Duration: several week hold -Daily timeframe Cup & Handle Set-Up for a multi-week swing trade in to earnings. -Note: Ex-dividend is this Thursday, April 20th and earnings are on Wednesday, May 3rd
NYSE:CVSLong
by EquityCast
CVS long to $80Risk to Reward (R/R): 1 to 13.61 Got my limit order filled this morning after waiting for 4 trading days. Trading with limit orders at larger time frame support eliminates any impulsive buying on a dip. The market must take me in at a desired price for my participation. There's always a designated entry, stop and minimum of 1 price target. Limit Order: 75.10 (20 day moving average support) Stop: 74.74 PT #1: 80 (50 day moving average resistance) This is a mean reversion and technical bounce play. Low risk / high reward!
NYSE:CVSLong
by EquityCast
$CVS Breaking Out?First in full disclosure, I started a small position in this name today. Despite having a downgrade today, the price is improving. As noted on the chart, CVS has been in a downtrend since December of 2022. It looks to have broken out today. In addition, we have 3 short-term MA’s turning up which also makes a good stop loss area. Volume has just been so so but if you look at the bottom of the chart you will notice that we have a rising MACD signal. And we have a nice, rounded bottom. I’ll look to add to my position if it can continue to improve in price. All TBD. Ideas, not investing / trading advice.
NYSE:CVSLong
by jaxdog