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Daily RSI Divergence:Bullish
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Relative Strength Index (RSI Indicator)

The Relative Strength Index is a popular momentum oscillator, developed by Welles Wilder, Jr. It is one of the most widely used technical indicators. Relative Strength Index compares upward vs. downward movements in closing over a selected period. The RSI Indicator fluctuates from 0% to 100%. A stock with RSI Indicator higher than 70% is considered overbought and lower than 30% - oversold. A good rule is to adjust overbought/oversold index range to 80% in bull and to 20% in bear markets. Relative Strength Index can provide an early warning, but not the final signal. It should be used in conjunction with other stock picking techniques. The divergence between RSI Indicator and underlying stock price is the most important signal provided by RSI, and it can be an indication of an impending reversal. Using the RSI divergence (bullish and bearish), chart patterns, trendlines, support, and resistance lines along with the RSI Indicator chart can be very useful.

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- 2/16/2024 -
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CVS Caremark Corp. (CVS) Technical Analysis

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Summary:
Weekly :Overbought sector
Daily :Williams' Percentage Range is overbought
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It was a third positive week after 3 consecutive negative weeks for the CVS Caremark Corp. (CVS). During the week, the CVS gained 0.78 points, or 1.02%, and closed at 77.10 on Friday, February 16, 2024. Weekly volume was 14% above average.

CVS is a member of Health Care Sector. Health Care is the most overbought 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 price is now at the 27.09% retracement level.

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 Broadening Ascending Wedge chart pattern. The trend support level is at 71.76 and resistance is at 91.19. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern 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. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. 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 January 25, 2024 at 70.19 and reached 78.30 on February 13, 2024. CVS gained -8.11 points, or -11.55%, in 19 days. The price is now at the 14.80% retracement level.

Daily Technical Indicators: [See CVS daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily 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 daily MACD line is above its signal line since February 7, 2024. This is an indication that the short-term trend is up.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 66.19
Williams' Percentage Range (W%R) 19.10
Overbought
Lane's Stochastic (%D-Slow) 77.84
Greed/Fear Indicator (GFI) 74.97
Moving Average Converg./Diverg. (MACD) -0.06
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 65.98
Williams' Percentage Range (W%R) 34.50
Lane's Stochastic (%D-Slow) 46.52
Greed/Fear Indicator (GFI) 56.78
Moving Average Converg./Diverg. (MACD) 0.34
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 91.19
Upper Bollinger Band 78.80
Daily Stochastic Crossing 77.35
Price 77.10
50 Day Moving Average 76.22
Weekly Stochastic Crossing 76.00
20 Day Moving Average 74.73
Parabolic System 74.37
Lower Bollinger Band 72.48
Quarterly Trendline Support 71.76
Sector and Industry
Description Name Rank
Sector Health Care 9
Industry Health Care Services 21
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 76.04
Low Date 02/14/2024
High 77.93
High Date 02/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 70.19
Low Date 01/25/2024
High 78.30
High Date 02/13/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
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 Broadening Ascending Wedge
Status Valid
Resistance 91.19
Support 71.76
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.