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Weekly W%R Divergence:Bullish
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Williams' Percentage Range (W%R)

Williams' %R is an effective momentum indicator that measures overbought/oversold levels. Like other indicators, W%R ranges between 0% and 100% , but in opposite to the other indicators, the 0% indicating overbought and 100% - the oversold stocks. W%R measures the closing price in relation to the recent low/high range. A bullish signal is generated when the W%R has reached 100, five time bars have elapsed, and the W%R has subsequently fallen to 95. A reverse signal is considered as bearish. For the sake of simplicity, the W%R closed above 10% is considered bearish and below 90% - bullish. In trending markets, the W%R stays at one end of the scale and gives false signals to trade against the trend. That is why W%R is not considered a stand-along technique, and it is essential to use it with some sort of trend formation indicators. The divergence between price and W%R rarely occurs and presents an important buy/sell signal. As our research shows, the W%R move to upper or lower bounds can be used as an earliest signal of an impending reversal. Using the Williams %R bullish divergence/bearish divergence, chart patterns, trendlines, support, and resistance lines along with the W%R chart can be very useful.

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- 5/31/2024 -
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CVS Caremark Corp. (CVS) Technical Analysis

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Summary:
Weekly :Oversold sectorBroken trend resistance lineWilliams' Percentage Range oversoldLane's Stochastic is strongly oversoldStochastic has raised above the signal line
Daily :The price moved above the moving average in the center of the Bollinger Bands
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It was a first positive week for the CVS Caremark Corp. (CVS). During the week, the CVS gained 4.06 points, or 7.31%, and closed at 59.60 on Friday, May 31, 2024. It was the best weekly gain since December 22, 2023. Weekly volume was 81% 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 52.77 on May 29, 2024. CVS lost 58.48 points, or 52.57%, in 120 weeks. The chart has formed a Falling Channel chart pattern. The trend support level is at 53.78 and resistance is at 75.24. 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 March 28, 2024 at 80.75 and reached 52.77 on May 29, 2024. CVS lost 27.98 points, or 34.65%, in 8 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (52.67) is broken. A broken support is considered to be a long-term bullish signal. 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 Williams' Percentage Range is oversold while Lane's Stochastic is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold weekly Williams' Percentage Range or strongly oversold weekly Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish 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 and 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. The distance between MACD and the signal line is near its high, but getting smaller. It indicates that the current medium-term downtrend is still strong, and momentum is beginning to wane. 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 May 29, 2024 at 52.77 and reached 59.62 on May 31, 2024. CVS gained -6.85 points, or -12.98%, in 2 days. Price is near the trend high.

Daily Technical Indicators: [See CVS daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is above its signal line since May 15, 2024. This is an indication that the short-term trend is up.

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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 64.47
Williams' Percentage Range (W%R) 53.60
Lane's Stochastic (%D-Slow) 33.27
Greed/Fear Indicator (GFI) 48.05
Moving Average Converg./Diverg. (MACD) -3.01
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 33.80
Williams' Percentage Range (W%R) 88.60
Oversold
Lane's Stochastic (%D-Slow) 8.96
Strong Oversold
Greed/Fear Indicator (GFI) 19.09
Oversold
Moving Average Converg./Diverg. (MACD) -1.84
Trading Signals
Description Value Chart
50 Day Moving Average 65.30
Upper Bollinger Band 60.66
Price 59.60
Monthly Trendline Resistance 57.04
20 Day Moving Average 56.21
Daily Stochastic Crossing 55.53
Lower Bollinger Band 55.29
Weekly Stochastic Crossing 54.95
Yearly Trendline Support 53.78
Parabolic System 52.72
Monthly Trendline Support 52.67
Sector and Industry
Description Name Rank
Sector Health Care 2
Industry Health Care Services 32
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 52.77
Low Date 05/29/2024
High 59.62
High Date 05/31/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 52.77
Low Date 05/29/2024
High 59.62
High Date 05/31/2024
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 57.04
Support 52.67
High 80.75
High Date 03/28/2024
Low 52.77
Low Date 05/29/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 83.25
High Date 01/08/2024
Low 52.77
Low Date 05/29/2024
Description Value
Direction Down
Chart Pattern Falling Channel
Status Valid
Resistance 75.24
Support 53.78
High 111.25
High Date 02/08/2022
Low 52.77
Low Date 05/29/2024
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.