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S&P 500 Oversold StocksArchive
- 12/13/2024 -
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CVS Caremark Corp. (CVS) Technical Analysis
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| Summary:
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| | It was the negative week for the CVS Caremark Corp. (CVS). During the week, the CVS dropped -5.92 points, or -10.71%, and closed at 49.37 on Friday, December 13, 2024. It was the worst weekly loss since October 18, 2024. Weekly volume was 50% above 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 48.01 on December 13, 2024. CVS lost 63.24 points, or 56.84%, in 148 weeks. The chart has formed a Falling Channel chart pattern. The trend support level is at 43.85 and resistance is at 64.38. 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 48.01 on December 13, 2024. CVS lost 19.79 points, or 29.19%, in 8 weeks. The chart has formed a Falling Channel chart pattern. The price is near the trend support (48.91) line. The support is usually stronger when technical indicators are oversold. 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 support line 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. Weekly Relative Strength Index and Lane's Stochastic have bullish divergence. Use the following links to access the Relative Strength Index and Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with weekly Relative Strength Index and Lane's Stochastic bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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 links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.
During the last week, weekly MACD line has moved below its signal line. Such crossover is considered a bearish signal. 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 November 29, 2024 at 60.47 and reached 48.01 on December 13, 2024. CVS lost 12.46 points, or 20.61%, in 14 days. The price is now at the 10.91% retracement level.
 Daily Technical Indicators: [See CVS daily technical indicators chart]
Daily Lane's Stochastic is oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Lane's Stochastic or strongly oversold daily Williams' Percentage Range. Daily Lane's Stochastic has bullish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic bullish divergence.
The daily MACD line is below its signal line since December 5, 2024. This is an indication that the short-term trend is down.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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.
The price touches the lower Bollinger Band. 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.
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