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Advanced TA SearchArchive
- 4/26/2024 -
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CVS Caremark Corp. (CVS) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the CVS Caremark Corp. (CVS). During the week, the CVS dropped -2.57 points, or -3.68%, and closed at 67.18 on Friday, April 26, 2024. Weekly volume was -14% below average.
CVS is a member of Health Care Sector. Health Care is the second most oversold sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See CVS long-term trend chart]
A long-term downtrend had started on February 8, 2022 at 111.25 and reached 64.41 on November 1, 2023. CVS lost 46.84 points, or 42.10%, in 90 weeks. The chart has formed a Falling Channel chart pattern. The trend support level is at 55.39 and resistance is at 76.86. A Falling Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Falling Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Channel pattern in a long-term trend.
 Medium-term trend: [See CVS medium-term trend chart]
A medium-term uptrend had started on November 1, 2023 at 64.41 and reached 83.25 on January 8, 2024. CVS gained -18.84 points, or -29.25%, in 9 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend support line (76.68) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. CVS may retest the broken support line. It is considered to be a resistance 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 support in a medium-term trend.
 Weekly Technical Indicators: [See CVS weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with weekly strongly oversold Williams' Percentage Range. 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 Williams' Percentage Range help.
The weekly MACD line is below its signal line since April 5, 2024. Use the following link to access a MACD help.
 Short-term trend: [See CVS short-term trend chart]
A short-term downtrend had started on March 28, 2024 at 80.75 and reached 66.75 on April 26, 2024. CVS lost 14.00 points, or 17.34%, in 29 days. Price is near the trend low.
 Daily Technical Indicators: [See CVS daily technical indicators chart]
Daily Relative Strength Index and Lane's Stochastic are oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Relative Strength Index and Lane's Stochastic or strongly oversold daily Williams' Percentage Range. Daily Relative Strength Index, Lane's Stochastic and MACD have bullish divergence. Use the following links to access the Relative Strength Index, Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Relative Strength Index, Lane's Stochastic and MACD bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Use the following links to access Lane's Stochastic and Relative Strength Index help.
The daily MACD line is below its signal line since April 1, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.
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