Dec. 11 at 10:36 PM
Actionable Trade Alert for
$CVS:
Market Context:
$CVS is currently trading at
$79.81, showing strength as it approaches the recent 60D high of
$85.15. The RSI at 61.09 indicates bullish momentum, suggesting potential for further upside. The stock is above both the 30-day MA (78.12) and 50-day MA (78.85), reinforcing a positive directional bias.
Trade Plan:
- Suggested Entry:
$80.00 (above current close to capture momentum)
- Stop Loss:
$77.50 (to limit downside risk)
- Take Profit Targets:
1.
$82.00 (2.5% gain)
2.
$84.00 (5.25% gain)
3.
$93.50 (17% gain, targeting a breakout towards the 60D high)
Rationale: The bullish sentiment is supported by the RSI and MA positioning, while the ATR of 2.09 indicates reasonable volatility for capturing these targets. The distance to the 60D high provides a clear upside potential.
Monitor the trade closely and adjust as necessary.
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