The Greedy Trader Weekly Analysis
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Weekly Price vs. Fibonacci:Near 23.6% retracement level
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Stock market trading indicator and technical analysis stock screen presents technical stock market timing signals for technical investment analysis like screen stochastic or moving average trading system.. Screen includes following popular indicators and trading systems: Relative Strength Index (RSI), Williams' Percentage Range (W%R) and Lane's Stochastic (%D–Slow), moving average, macd convergence divergence, bullish and bearish divergence. For the best result different technical indicators should be analyzed in different time frames together with trend analysis, sector/industry ranking and stock timing alerts.

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- 3/15/2024 -
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CVS Caremark Corp. (CVS) Technical Analysis

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Summary:
Weekly :Oversold industryBroken trend resistance lineBroken trend resistance line
Daily :Lane's Stochastic is overboughtPrice has crossed above the 50 Day Moving AverageDaily  MACD line has moved above its signal lineThe price has risen above the Parabolic SARThe price moved above the moving average in the center of the Bollinger Bands
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It was a second consecutive positive week for the CVS Caremark Corp. (CVS). During the week, the CVS gained 2.33 points, or 3.10%, and closed at 77.40 on Friday, March 15, 2024. Weekly volume was -28% below average.

CVS is a member of Health Care Services Industry. Health Care Services is the tenth most oversold industry. 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 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 resistance line (73.74) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 long-term trend.

Medium-term trend: [See CVS medium-term trend chart]
A medium-term downtrend had started on January 8, 2024 at 83.25 and reached 70.19 on January 25, 2024. CVS lost 13.06 points, or 15.69%, in 2 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (74.18) 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.

The weekly MACD line is above its signal line since June 16, 2023. The distance between MACD and the signal line is low and getting smaller. 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 March 1, 2024 at 73.04 and reached 77.61 on March 15, 2024. CVS gained -4.57 points, or -6.26%, in 14 days. Price is near the trend high.

Daily Technical Indicators: [See CVS daily technical indicators chart]
Daily Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic. 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.

During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 55.84
Williams' Percentage Range (W%R) 47.90
Lane's Stochastic (%D-Slow) 80.21
Overbought
Greed/Fear Indicator (GFI) 62.73
Moving Average Converg./Diverg. (MACD) -0.11
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 54.23
Williams' Percentage Range (W%R) 40.60
Lane's Stochastic (%D-Slow) 44.87
Greed/Fear Indicator (GFI) 52.33
Moving Average Converg./Diverg. (MACD) 0.65
Trading Signals
Description Value Chart
Upper Bollinger Band 77.99
Price 77.40
Daily Stochastic Crossing 76.73
50 Day Moving Average 75.78
20 Day Moving Average 75.62
Monthly Trendline Support 74.18
Monthly Trendline Resistance 73.94
Quarterly Trendline Resistance 73.94
Quarterly Trendline Support 73.74
Weekly Stochastic Crossing 73.74
Parabolic System 73.50
Lower Bollinger Band 73.06
Sector and Industry
Description Name Rank
Sector Health Care 6
Industry Health Care Services 10
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 73.04
Low Date 03/01/2024
High 77.61
High Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 78.30
High Date 02/13/2024
Low 73.04
Low Date 03/01/2024
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 73.94
Support 74.18
High 83.25
High Date 01/08/2024
Low 70.19
Low Date 01/25/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 73.94
Support 73.74
Low 64.41
Low Date 11/01/2023
High 83.25
High Date 01/08/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 111.25
High Date 02/08/2022
Low 64.41
Low Date 11/01/2023
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.