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Advanced TA SearchArchive
- 4/19/2024 -
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CVS Caremark Corp. (CVS) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a first positive week for the CVS Caremark Corp. (CVS). During the week, the CVS gained 1.11 points, or 1.62%, and closed at 69.75 on Friday, April 19, 2024. CVS was trading at average weekly trading volume.
 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 support line (76.17) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. CVS may retest the broken support line. It is considered to be a resistance 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 support in a long-term trend.
 Medium-term trend: [See CVS medium-term trend chart]
A medium-term downtrend had started on March 28, 2024 at 80.75 and reached 67.96 on April 17, 2024. CVS lost 12.79 points, or 15.84%, in 2 weeks. The price is now at the 14.00% retracement level.
 Weekly Technical Indicators: [See CVS weekly technical indicators chart]
Weekly Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold 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 weekly MACD line is below its signal line since April 5, 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 April 17, 2024 at 67.96 and reached 69.94 on April 19, 2024. CVS gained -1.98 points, or -2.91%, in 2 days. The price is now at the 9.60% retracement level.
 Daily Technical Indicators: [See CVS daily technical indicators chart]
Daily Relative Strength Index and Lane's Stochastic are oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Relative Strength Index and Lane's Stochastic or strongly oversold daily Williams' Percentage Range. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal. Use the following links to access Lane's Stochastic and Relative Strength Index help.
The daily MACD line is below its signal line since April 1, 2024.
The distance between the Bollinger Bands is 120.63% higher then one year average. It indicates the period of high volatility of the stock price. 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 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. 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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