CVS trade ideas
CVS at resistance - looking for retrace to $70CVS just hit prior resistance with a daily candle matching the previous peak. Not only that, WBA had a breakout of a massive downtrend, but the last two days formed a tweezer top so there is some bearish correlation here. I expect CVS to get rejected from here and move down to the bullish trendline at around $70.
Long Play on $CVSHi All,
I've entered a long position on $CVS.
I believe that COVID-19 vaccine distributions throughout Q1 and Q2 will aid $CVS with additional revenue, giving them the ability to further scale and efficiently grow at a rapid pace.
They are currently sitting at ~ $97B market cap- I expect an additional $40B - $50B of revenue to be added to their income statement ending 2021, accounting for just Q1 and Q2 alone. 328 million people strictly in America need to be vaccinated, COVID will be treated just like the flu- in terms of yearly shots to the doctor or health provider.
I'm entering a long position until my $91.64 limit order hits. GLTA!
I am not a financial advisor, my posts are my opinions and mine only. Please do your own due diligence as well before investing.