After Yesterday's Decline of 1.04%, CVS Caremark Offers Investors Better Value
CVS Caremark (NYSE:CVS) traded in a range yesterday that spanned from a low of $86.15 to a high of $87.51. Yesterday, the shares fell 1.0%, which took the trading range below the 3-day low of $86.58 on volume of 2.5 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.
CVS Caremark share prices have moved between a 52-week high of $113.65 and a 52-week low of $81.37 and are now trading 6% above that low price at $86.31 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has remained constant.
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 6.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: rebounders CVS Caremark