CVS Caremark Corp.
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|It was a first positive week for the CVS Caremark Corp. (CVS). During the week, the CVS gained 4.57 points, or 6.48%, and closed at 75.12 on Friday, December 01, 2017. Weekly volume was 62% above average. |
Long-term trend: [See CVS long-term trend chart]
A long-term downtrend had started on May 9, 2016 at 106.67 and reached 66.45 on November 6, 2017. CVS lost 40.22 points, or 37.71%, in 78 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
Medium-term trend: [See CVS medium-term trend chart]
A medium-term downtrend had started on September 19, 2017 at 84.00 and reached 66.45 on November 6, 2017. CVS lost 17.55 points, or 20.89%, in 6 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (62.23) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. CVS may retest the broken resistance line. It is considered to be a support line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.
Weekly Technical Indicators: [See CVS weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.
The weekly MACD line is below its signal line since October 6, 2017. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.
Short-term trend: [See CVS short-term trend chart]
A short-term uptrend had started on November 6, 2017 at 66.45 and reached 77.79 on November 30, 2017. CVS gained -11.34 points, or -17.07%, in 24 days. Price is near the Fibonacci 23.6% retracement level.
Daily Technical Indicators: [See CVS daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range. Use the following link to access Williams' Percentage Range help.
The daily MACD line is above its signal line since November 9, 2017. This is an indication that the short-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term uptrend is strong.
During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
During the last week, the price has advanced above the 50 Day Moving Average. While the medium-term trend is down and daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.