CVS closes lower for the 2nd day in a row
CVS Caremark Corp. (CVS) Technical Analysis Report for Sep 14, 2018
Moving lower for the 2nd day in a row, CVS finished the week -0.49% lower at 76.91 after edging lower $0.17 (-0.22%) today. 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 weak close near the low of the day sets a bearish note for the next session.
Friday's trading range was $0.88 (1.14%), that's below last trading month's daily average range of $1.36. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being way below average.
Prices are trading close to the key resistance level at 77.80. After having been unable to move lower than 76.89 in the prior session, the market found buyers again around the same price level today at 76.86.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
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||Direction||Win Rate||Win Rate||Exit Day||Exit Day||Events|
|Close near high of period||TQ Pro Members Only|
|Bullish Outside Bar||TQ Pro Members Only|
|Closed above last periods high||TQ Pro Members Only|
|Low close to previous two Lows||TQ Pro Members Only|
|Low close to previous low||TQ Pro Members Only|
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