CVS stock: buy or sell

CVS stock price: $83.30 -0.41% At close on Jul 28th, 2021

Updated on:
Jul 29th, 2021

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CVS stock brief

  • CVS closed on Wednesday at $83.30 after only moving a -0.41%.
  • The stock is configuring an uptrend pattern since last February, when it bottomed at $67.17. Up to date, price made a 24.01% profit since the beginning of this rally
  • CVS Health Corporation provides health services in the United States.

Should I buy CVS stock?

Even if you are a experienced or a novel trader, best trading results come from using an investing strategy that never leaves to random or subjective opinions when is the best moment to buy or sell stocks. Trading strategies are meant for helping you in the decision process of what stocks to pick and when is the best moment to buy them. At Stocks2.com, we like to use very simple but trusted and powerful trend following trading strategies. Simple things usually work the best

Is $CVS stock a buy?

In the current situation of CVS there is just one buy setup eligible:

Uptrend buy setup

CVS stock continues to trend higher since last February and marked an amazing 24.01% gain. Price marked a local bottom in this uptrend at $79.08 on July 19, and since then it bounced off a 5.34%. Now, it's just 8.12% away from breaking out above its last top and resume the uptrend. The new entry point is therefore at $90.06. If you decide to enter this trade, the suggested stop loss is at $81.05

Buy setupBuy pointStop lossRisk
Uptrend buy setup$90.06$81.0510.00%

Should I sell CVS stock?

"To sell or not to sell", if you are holding CVS stock?. Trading strategies give us the ability us to avoid impetuous decisions based on our personal sentiments or the buzz that surrounds the market. Our trading system selects very simple setups to guide us on when is the best moment to sell our shares. Be aware that these setups are not intended for shorting CVS stock

A guiding principle is that you should not keep a trade that produces higher than expected losses upon purchase. The moment to sell shares should always be determined by the stop-loss (automatic or manual)

Is it time to sell CVS stock?

In the current situation of CVS there is not any eligible sell setup, so CVS stock holders with operations in green can keep their positions

CVS ratings

In the last 30 days we couldn't find any rating for CVS

CVS stock analysis

CVS shares started an uptrend last February, and gained an amazing 24.01%. During this uptrend, the price offered some entry points on the breakouts. Latest low was on July 19, when price bounced at $79.08. Like in all uptrends, price needs to take breath and now price is moving in a range between $90.06 and $79.08

SMAs overview

CVS stock SMAs chart

Supports and resistances

The current resistances are:

  • R1: $84.14 (1.01% above)
  • R2: $84.28 (1.18% above)
  • R3: $84.79 (1.79% above)
  • The current support levels are:

  • S1: $83.20 (-0.12% below)
  • S2: $82.89 (-0.49% below)
  • S3: $82.57 (-0.88% below)
  • Bollinger bands

    The evolution of the Bollinger Bands on the chart shows that they are quite narrow (less than 5%), which clearly indicates that price volatility is low. The compression of the Bollinger bands is frequently a indication of a sharp price movement (up or down), so we must be watchful and manage our buy or sell orders accordingly

    CVS stock Bollinger Bands chart

    Relative strength index

    The RSI dropped below the overbought level of 70 last May after just crossing to the overbough zone for just one day (weak signal). The RSI reading on Wednesday was 55.16. CVS shares collapsed a 5.52% since then

    CVS stock RSI chart

    CVS stock price history

    CVS IPO was on Feb 21st, 1973 at $0.70 per share1. Since then, CVS stock surged by 11,800.00%, with an average of 245.83% per year. If you had invested $1,000USD in CVS stock at that time, it would have a value of $119,000.00 today.

    1: Adjusted price after possible price splits or reverse-splits

    CVS stock price history chart

    Price target for CVS stock

    How much a stock will be priced tomorrow or next week is quite unpredictable. However, many stock price predictions are posted every day by banks, financial institutions and independent analysts.

    Along with buy or sell recommendations, financial institutions post their price predictions based on the stock price action and the company fundamental data. Most of these forecasts follow the release of new fundamental information by the company, and many times. If you are a small trader you should not invest based on these projections.

    In the previous 30 days we couldn't find any price target posted for CVS stock.

    Earnings and financials

    Last May, CVS ($CVS) had the financial call and presented the report. CVS posted earnings of $2.04 per share on revenue of $69.1 billion. The consensus earnings estimate was $1.71 per share on revenue of $68.4 billion.

    In contrast, the EPS for the same quarter last year was $1.91, so current EPS means a improvement of 6.81%. Looking at revenues, figures only moved compared to $665.9B same quarter a year ago.

    CVS ($CVS) posts Q2 financial report next Wednesday. Forecasted for this quarter is $2.06, compared to $2.04 that was reported for Q1.

    CVS performance

    CVS performance compared
    Company1m3m6m
    CVS ($CVS) -1.00% 10.60% 16.50%

    Important:
    The opinions published in this article are personal and should not be followed as recommendations for you to buy or sell stocks. The author of this text does not have any knowledge of the individual conditions of the reader, his or her financial statements or what is in his or her best interest at any given time. All users should speak with their financial advisor before buying or selling any securities Thoughts are published for general educational reasons only

    CVS summary

    Wednesday, July 28th, 2021
    Open$83.63
    Close$83.3
    Day range$82.5 - $83.73
    Previous close$83.64
    Session gain-0.41%
    Average true range$1.50
    50d mov avg$83.96
    100d mov avg$79.84
    200d mov avg$73.61
    Earnings dateAugust 4th, 2021

    Frequently asked questions

    What is CVS stock symbol?

    CVS Health Corporation is a public company trading in the US stock market with the CVS symbol

    Is CVS stock a buy or sell?

    CVS had no ratings in the last 4 weeks Read the article to get additional tips on trading CVS stock.

    Will CVS go up?

    There were no predictions posted by market analysts in the last month for CVS.