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Health Care Services Industry Stocks Technical Analysis - CVSArchive
- 1/17/2025 -
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CVS Caremark Corp. (CVS) Technical Analysis
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| Summary:
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| | It was a fourth positive week after 3 consecutive negative weeks for the CVS Caremark Corp. (CVS). During the week, the CVS gained 4.61 points, or 9.60%, and closed at 52.62 on Friday, January 17, 2025. Weekly volume was 44% above average.
 Long-term trend: [See CVS long-term trend chart]
A long-term downtrend had started on February 8, 2022 at 111.25 and reached 43.56 on December 23, 2024. CVS lost 67.69 points, or 60.84%, in 149 weeks. The chart has formed a Falling Channel chart pattern. The trend support level is at 42.29 and resistance is at 62.82. 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 downtrend had started on October 14, 2024 at 67.80 and reached 43.56 on December 23, 2024. CVS lost 24.24 points, or 35.75%, in 10 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The price is near the trend resistance line (53.36). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a medium-term trend.
 Weekly Technical Indicators: [See CVS weekly technical indicators chart]
Weekly Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold 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.
The weekly MACD line is below its signal line since December 6, 2024. 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 December 23, 2024 at 43.56 and reached 52.89 on January 17, 2025. CVS gained -9.33 points, or -21.42%, in 25 days. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (45.65) 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 short-term trend.
 Daily Technical Indicators: [See CVS daily technical indicators chart]
Daily Relative Strength Index is overbought while Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index or strongly overbought daily Williams' Percentage Range and Lane's Stochastic. Use the following links to access Relative Strength Index and Williams' Percentage Range help.
The daily MACD line is above its signal line since January 2, 2025. This is an indication that the short-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term uptrend is strong.
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.
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