Look for Shares of CVS Caremark to Potentially Rebound after Yesterday's 1.04% Sell Off
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.
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.
In the past 52 weeks, CVS Caremark share prices have been bracketed by a low of $81.37 and a high of $113.65 and are now at $86.31, 6% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.5%.
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