We could see some shorting opportunities with the quadruple witching coming up, it seems all of nasdaq is bearish. If price continues to drop, our next support will be the $61.70 level. If our $61.70 support level holds we could see a little back and forth between those key levels as price tries to retest. We could even see price break $61.70 and test the next support level, but looking at the bigger picture, we're looking forward to a long bullish movement following this short bearish move. Not only is CVS the USA's top pharmacy and playing a huge part in the administration of the COVID-19 vaccine coming very soon, but CVS stock price just recently broke out of a 5 year downtrend that started in August of 2015 when price was at $113/share. That 5 year trendline is also a possible point of interest as price could try to retest it if our support level is broken.
Commentaire:
I meant to say $68.70 in the places where i said $61.70.