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CVS Stock - analyzed for a client in April 2017 - 100 % accuracy
 

Posted by admin on

June 27, 2017

Below is the actual article I wrote on “CVS stock” for one of the client in April 1st week 2017  –Price action , targets, Resistance areas predicted in advance & proved 100% accurate

This report has been written on April 6th’ 2017. Please note, the analysis below must be revisited weekly once at least, to see where the stock stands.

CVS – CVS had great run from Jan 2012 to July 2015. The stock rose from 37.5 to 110.  From Aug 2015, the stock has been going down & touched a low of around 68-69 in Nov 2016. It has recovered from that low of Nov 2016 & closed at 77.01 on April 6th, 2017.

Let’s see the technical picture & what it is trying to say

cvs

SHORT TERM Trend – NEGATIVE

MEDIUM TERM TREND – NEGATIVE

LONG TERM TREND – NEGATIVE

 

BULLISH SCENARIO – It is struck in a range from Nov 2016 to March 2017 as the picture shows above (daily chart). Bulls are trying to hold this stock from further deterioration. For the ones who love this stock one can buy here with a stop loss of 74. Huge resistance around 81.5 to 82.5 area though (9/10 to 10/10 rating). If it holds 74 and bulls decide to step up, expect 82 around 2-4 weeks & then of course the real test as explained above. I would rather wait, than buy it now as Bears have upper hand. Next 2 weeks will be interesting test for this stock. Bulls must step up or it could be trouble for this stock

 

BEARISH SCENARIO – The first trouble for this stock is when the stock breaks 74 & closes below 74. The second trouble is if goes below 72.5, then aggressive selling will most probably start. The first target is of course recent low of 68-69 of Nov 2016. The second target around 60 in 2-3 months if 72.5 is broken.

 

ConclusionNext 2 weeks will be very interesting for the stock on how it performs. Considering that there is heavy resistance at 81 to 82.5 area, I would not be a buyer of this stock until smart money proves that Bulls have stepped up. When it crosses 84 convincingly, it may be time to buy after re-look the technical picture of the stock. I would in fact short this stock on break of 74, with a stop loss of 82.3.

 

Thanks & God Bless,

Koomar

UPDATE June 27th 2017 — I wrote under BULLISH scenario that “For the ones who love this stock one can buy here with a stop loss of 74″. Huge resistance around 81.5 to 82.5 area though (9/10 to 10/10 rating). If it holds 74 and bulls decide to step up, expect 82 around 2-4 weeks & then of course the real test as explained above.

Well that’s what exactly happened – After few days of this article – Bulls stepped up & took the stock to 82.5-83 in less than 2 weeks. And then bears stepped up as it was high resistance area and sold it hard to 76.5 area. It never crossed 84 convincingly & the Trend remains negative till date.

Below is the updated chart & price action as of June 27th 2017, proving the accuracy of the analysis. 100% accurate .

cvs jun 2017

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