CVS Long ideaNYSE:CVS
CVS on daily timeframe
Short term price action and indicators suggesting bullish momentum
CVSD trade ideas
$CVS Downtrend Breakout, Bullish Options$CVS Downtrend breakout today on the daily chart. Should see nice follow through move near term...some resistance possible at $85.
Bullish Unusual Options Activity:
$85M of Jan'2022 deep ITM calls traded today (~10x open interest)
$77M of Jan'2023 deep ITM calls traded today (~10x open interest)
Of note...earnings coming early August. Solid beat last quarter.
Medium term target: $100-$105 range by early Sept
Note: This is NOT investment advice. Educational only.
CVS with an Interesting Setup. LONG? SHORT? WHO KNOWS?CVS chart showing a really interesting setup. We have 2 possible scenarios to take into consideration.
1. CVS continues to push higher and breaks out of this resistance. Break and close above $77.20 would be confirmation of the breakout. We saw it break over $77.20 today but failed to hold and sold off. If it can hold above and show strength we may see CVS make a run towards $80 and higher.
2. CVS fails to breakout over $77.20 and hold it for a 3rd time and falls back into the ascending triangle where puts / shorting would work. If market shows signs of weakness after such a crazy move higher we may see CVS reject once again and continue to trade inside of this pattern for some more time before breaking out higher.
Those are both possible scenarios I see that can happen. I personally think we see the market sell some tomorrow 4/22/2021 and we may see CVS come down. I am going to keep a close eye on this ticker and hopefully we can get a nice breakout in the future but it may need some more time.
PLEASE SHARE WITH ME YOUR THOUGHTS ON CVS AND WHAT IT IS GOING TO DO I WOULD LOVE TO HEAR WHAT YOU THINK.
THIS IS NOT A FINANCIAL RECOMMENDATION AND ALL OF THIS IS JUST TECHNICAL ANALYSIS AND MY OPINION ON WHAT I THINK THE STOCK WILL DO.
Pullback before the next run.With MACD converging and RSI weakening, looks like the start to a pull back and good buying opportunity. Analyst PTs are in the low to mid 90s and the setup looks a lot like the start to Wave 4 so watching to see how far it retraces. Looking to get in if it goes below 88 and bounces off support.
CVS - 6.18% Profit Potential - Ascending TriangleCareful - I will wait for earnings before placing this order.
Ascending Triangle formed after a 6-month correction and a recent run. Betting on last month's momentum run.
Good risk-reward ratio and target set at a potential formation of a 6-month resistance line.
- Target Entry: $77.80
- Target Stop Loss: $75.91
- Target Exit: $82.51
- Risk / Reward Ratio: 2.49
About me
- Note that I tend to adjust stop losses in order to secure profits early and preserve capital. This means that the target price is going to be achieved as long as there are no strong pullbacks that trigger my new adjusted stop loss
CVS earnings tomorrow pre marketCVS earnings are tomorrow 5/4 pre market at 6:30am. CVS (CVS) reported Q4 December 2020 earnings of $1.30 per share on revenue of $69.6 billion. The consensus earnings estimate was $1.24 per share on revenue of $68.7 billion. Revenue grew 4.0% on a year-over-year basis. The company said it expects 2021 earnings of $7.39 to $7.55 per share. The current consensus earnings estimate is $7.53 per share for the year ending December 31, 2021.
Q1 March 2021 Consensus:
EPS = $1.72
Revenue = $68.38B
P/E = 13.98
Div/Yld = 2.62
R3 = $80.37
R2 = $78.91
R1 = $77.34
pivot = $75.77
S1 = $74.30
S2 = $72.84
S3 = $71.27
Do your own due diligence, your risk is 100% your responsibility. This is for educational and entertainment purposes only. You win some or you learn some. Consider being charitable with some of your profit to help humankind. 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, capital risk management
Beware of analysts motives
Emotions & Opinions
FOMO : bad timing
Lack of planning & discipline
Forgetting restraint
Obdurate repetitive errors, no adaptation
7 Important tools:
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
TTC - trend channel
AlertiT - notification
www.tradingview.com
HTF - Long CVSCVS really likes testing this rising, upper trend line. It's reversed every time it has crossed it, but it keeps coming back for more. We seem to be heading back now, as an inverse head and shoulders appears to be forming, and it's on the verge of breaking out of it's local trend line, while starting to curve upwards. MACD supports a reversal here. RSI supports continued upwards momentum. Price has made a lower low and a new local higher high. Be warned... the trend line we're touching right now could also act as short term resistance. Another lower low would be healthy.
This appears to be a good long term play. Looks like it is possible of reaching 174 by 2024.
CVS Butterfly for April 30Dipping the toe in on CVS with a butterfly 175/180/185 @ $0.68. It is approaching 52 week high just above $77 on the 4th attempt in 6 months. If it is rejected and stays in the channel, another attempt to push past 52 week high will be right around the corner. You could close all or half (if you buy multiple contacts) at $77 for 190% profit. If price makes it to $80 on expiration you could close for 615% profit. This isn't advice and I am not a professional. Just looking for low risk/ high gain plays.
CVS to $78 | Buying $78 call if CVS stays around $74 or $73 Looks like CVS is hovering just above the oversold area & MACD is showing a downtrend. Looks like it's getting set up for a rebound to the $78 level. I'm going to use the 0.618($73.94) level as a guideline to place my call. Also, I'm going to wait to see the lines nearing a cross on the MACD as a reversal in the squeeze momentum indicator.
Let me know if you guys agree with this analysis. :)
