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CVS Caremark Crosses Below its 10-day MA (CVS)

By David Diaz

CVS Caremark (NYSE:CVS) shares have crossed bearishly below their 10-day moving average of $78.96 on a volume of 5.7 million shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, shares of CVS Caremark have traded between a low of $69.30 and a high of $113.65 and are now at $76.15, which is 10% above that low price. The 200-day and 50-day moving averages have moved 0.14% lower and 0.51% higher over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of CVS Caremark on August 30th, 2016 by issuing a Downtrend alert when the shares were trading at $92.74. Since that call, shares of CVS Caremark have fallen 13.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses CVS Caremark

Ticker(s): CVS