#NYSE: $CVS has some UPSIDE left, HOWEVER proceed w/ CAUTION!#NYSE: $CVS has some UPSIDE left, HOWEVER proceed w/ CAUTION! #BullTrap
CVS trade ideas
CVSGap should close at 65. Fib trend at Nov 5th. Earnings on the 6th. Should then recover and return to 79. Should wait for confirmation of $68-65
Short CVS because Bear WedgeVolume trend looks good. Pattern looks good. Recent volume is heavily below where we are.
CVS: (Long) MACRO FIB Resistance Speed & FIB Retracement Analysis from March 2000
For Educational Purposes Only
CVS: (Long) FIB Retracement & FIB ResistanceFIB Retracement Origin: 113.65 (07/29/2015)
FIB Retracement Destination: 60.14 (03/27/2018)
FIB Resistance Origin: 60.14 (03/27/2018)
FIB Resistance Destination(s): 79.97 (09/20/2018); 90.00 (Analyst PT 9/17/2018)
For Educational Purposes Only
CVS: (Long) FIB Resistance Speed [Layered] Origin Price(s): 60.14 (3/27/18); 63.04 (6/28/18); 72.82 (09/05/18)
Destination Price(s): 79.97 (09/20/18); and, 90.00 (Analyst PT 9/17/18)
For Educational Purposes Only
Rising rendIt is not seen at the first view but the fork is showing it already: With the current breakout we started a new uptrend.
CVS- Wave 5 target at 75.49. Picture perfect Leading diagonalwith perfect touches for waves 1~4, MACD just starting bullish climb, 200 ma turning upslope and clear skies.
CVS putsFor 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
CVS Long IdeaShould 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; cyclically resilient business
- Still trading at less than half its historical PE
CVS Bounced Nicely Off Support, Potential To Rise Further! 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 occur.
CVS long following bottoming out, monthly bullish divergenceCVS has formed a descending triangle and daily appears to be closing above the upper triangle (break out). We have a monthly bull div on the RSI. A forming daily wedge will provide good stop for our trade. R:R lies in longing at break out confirmation.
A PRZ - CVSWe may have a PRZ at the 60 level. Price has bounced off of the 60 area (long term 61.8 fib) 5 times over recent weeks and appears to be seeking support here.
Target 105
SL below 55
Cheers!
$CVS Long-term Chart Bearish$CVS showing a bearish gravestone doji on the daily to remain trapped in what looks like a descending triangle pattern forming. Ideally would like to see another red candle tomorrow for confirmation.
Targeting 5-10% downside in the near term. If $60 support fails, could see 15-20% downside before next ER.
This lovely drug store should bounce sooncvs is a dime piece, it has had a rocky road since mid 2015, but this will soon turn around !
Possible double bottom on CVSSeeing a possible double bottom on the daily CVS chart. Possible bounce back upwards?
Just an idea not financial advice.
