Thread by @malteseinvest

Analysis: #NYSE $CVS

Case 254 #CVS Health Corporation

DISCLAIMER: The analysis is strictly for educational purposes and should not be construed as an invitation to trade.

#CVS 1/4

Chart 1
Monthly Chart: Price peaked at the all time high of 113.65, in July 2015, and has since then been unable to hold above 83.00 leading to a strong break lower and running into a #confluence of the #SMA 200, sloping #trendline and .....

CVS 2/4

..... #Fib 0.618 support at 51.64 - 50.16. A close below the long term trendline #support at 47.00 will target 40.80 - below the latter lies the major support zone of 32.90 - 22.60 where we expect to see strong buying interest.

CVS 3/4

Chart 2
Daily Chart: The #Strategy is printed on the image.

$CVS 4/4