• Return to Headlines

SmarTrend Watching for Potential Pullback in Shares of CVS Caremark After 1.37% Gain

By Nick Russo

CVS Caremark (NYSE:CVS) traded in a range yesterday that spanned from a low of $77.79 to a high of $78.96. Yesterday, the shares gained 1.4%, which took the trading range above the 3-day high of $78.74 on volume of 1.9 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, CVS Caremark has traded in a range of $69.30 to $113.65 and is now at $78.82, 14% above that low. 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 16.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders CVS Caremark

Ticker(s): CVS