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SmarTrend Watching for Potential Rebound in Shares of Cvs Health Corp After 3.69% Loss

By Shiri Gupta

Cvs Health Corp (NYSE:CVS) traded in a range yesterday that spanned from a low of $74.20 to a high of $77.07. Yesterday, the shares fell 3.7%, which took the trading range below the 3-day low of $78.70 on volume of 7.5 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Cvs Health Corp has traded in a range of $60.14 to $83.88 and is now at $75.77, 26% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.1% while the 200-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of Cvs Health Corp on August 13th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $69.36. Since that recommendation, shares of Cvs Health Corp have risen 13.8%. We continue to monitor CVS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders cvs health corp

Ticker(s): CVS