Dec. 17 at 2:10 AM
Actionable Trade Alert for
$CVS:
Market Context:
$CVS is currently trading at
$78.07, positioned between its 60-day high of
$85.15 and low of
$73.83. The RSI at 48.93 indicates a neutral momentum, suggesting potential for upward movement as it approaches oversold levels.
Directional Bias: The price is slightly below the 30-day moving average (MA30) of
$78.28 and the 50-day moving average (MA50) of
$78.98, indicating a potential bullish reversal if it breaks above these levels.
Trade Plan:
- Suggested Entry:
$78.50 (above MA30)
- Stop Loss:
$76.50 (below recent support)
- Take Profit Targets:
1.
$81.00 (target 1, approx. 3.2% gain)
2.
$83.00 (target 2, approx. 5.9% gain)
3.
$91.50 (target 3, approx. 17.2% gain)
This plan offers a favorable risk-reward ratio, capitalizing on potential upward momentum while managing risk effectively.
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