CVS closes higher for the 6th day in a row


CVS Caremark Corp. (CVS) Technical Analysis Report for Aug 10, 2018 [1 min read]
Highlights
CVS runs into sellers around 69.12 for the third day in a row
CVS fails to close above 200-day moving average
CVS closes higher for the 6th day in a row
CVS ends the day on a bullish note closing near the high of the day
CVS rises to highest close since June 27th
TQ Sentiment
Report Sentiment: 33% Bearish
Technical Forecast:
Overview

Moving higher for the 6th day in a row, CVS finished the week 6.41% higher at 69.05 after gaining $0.48 (0.7%) today. Today's closing price of 69.05 marks the highest close since June 27th. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range in a lackluster session. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily chart for CVS
Volatility

Friday's trading range was $0.91 (1.33%), that's below last trading month's daily average range of $1.28. Things look different on a weekly scale, where volatility is above the markets average with the monthly volatility being below average.

Price Action

During the whole day, prices traded within the prior day's range, unable to trade above the previous day's high or below the prior day's low forming an Inside Bar.

Support/Resistance

Prices are trading close to the key resistance level at 69.39. The stock ran into sellers again today around 69.12 for the third trading day in a row after having found sellers at 69.28 in the previous session and at 69.39 two days ago. After spiking up to 69.12 during the day, the share found resistance at the 200-day moving average at 69.06.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Order Flow

Buying might accelerate should prices move above the close-by swing high at 69.39 where further buy stops could get activated. Further buying might move prices higher should the market test July's nearby high at 70.34.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for CVS Caremark Corp.
Condition Forecast Direction Win Avg Worst Best Events
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when CVS Caremark Corp. traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Signup
Stocks Top Movers
ETHUSD 313.2627.54 9.64%
BTCUSD 6,552.78258.70 4.11%
NATGAS 2.9440.033 1.13%
GOLD 1,191.810.8 0.91%
CRUDE 65.200.47 0.73%
CAC 5,344.93-4.09 -0.08%
DAX 12,210.55-26.62 -0.22%
USDJPY 110.50-0.40 -0.36%
DXY 95.980-0.555 -0.57%
Start your day with the facts moving the markets
By clicking "Subscribe", you agree to our terms and privacy policy.

Related Stocks

ABBV 10 day candlestick chart for ABBV98.81 0.59
0.60%
ACN 10 day candlestick chart for ACN164.89 2.00
1.23%
ADBE 10 day candlestick chart for ADBE245.70 -3.19
-1.28%
AAP 10 day candlestick chart for AAP159.72 0.23
0.14%
AES 10 day candlestick chart for AES13.94 0.07
0.50%
AET 10 day candlestick chart for AET198.86 0.39
0.20%
AFL 10 day candlestick chart for AFL46.76 0.26
0.56%
AMG 10 day candlestick chart for AMG146.59 0.30
0.21%
A 10 day candlestick chart for A64.66 -0.84
-1.28%
ABT 10 day candlestick chart for ABT64.72 0.56
0.87%