June 4, 2019

CVS…The Potential Breakout

CVS has been a stock down in the dumps. If you ask investors their thoughts, the response might not be PG rated. However, I see a potentially strong opportunity for the stock to “break-out” in the near term. The key level range will be $55.80. I want to see the stock close above and open above this level. Then I would want to see IMMEDIATE support. I mean a very immediate reaction. I would not want to see the stock get too far below this price. I am talking about cents and not dollars. So yes, a very immediate response will be required. IF that takes place at the dedicated price range, that would be considered a bullish sign. That is what I am looking for and CVS is inching closer and closer. Short covering rally + break-out setup COULD = HUGE gains near term. Keep CVS on your radar.

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about the author:

Charles Moon

Charles Moon is a technical "whiz kid" whose experience lies in scalp/swing trading. A patient educator, Charles excels at coaching/mentoring and can make complex concepts simple. Prior to joining the ranks of Prosper Trading Academy, Charles was a proprietary equities trader with Great Point Capital LLC. Coming from a retail trading background, his experience can help those with no experience trading to seasoned veterans.

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