CVS HEALTH CORP. - 1H - Technical analysis published on 02/07/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Bullish
Technical indicators
89%
0%
11%
My opinion
Bullish above 73.46 USD
My targets
78.28 USD (+2.91%)
80.68 USD (+6.06%)
My analysis
CVS HEALTH CORP. is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 73.46 USD. The next resistance located at 78.28 USD is the next bullish target to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 80.68 USD. After this resistance, buyers could then target 82.50 USD.
In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
7.5
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Additional analysis
Quotes
The CVS HEALTH CORP. rating is 76.07 USD. The price has increased by +3.13% since the last closing and was traded between 75.06 USD and 77.40 USD over the period. The price is currently at +1.35% from its lowest and -1.72% from its highest.75.06
77.40
76.07
The Central Gaps scanner detects the formation of a bullish gap marking the strong presence of buyers against sellers at the opening. This formed a quotation gap.
Opening Gap UP
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in 1H of this CVS HEALTH CORP. chart shows a bullish trend. 78.57% of the signals given by moving averages are bullish. The overall trend is reinforced by the strong bullish signals from short-term moving averages. An assessment of moving averages reveals a bullish signal that could impact this trend:
Moving Average bullish crossovers : AMA20 & AMA50
Type : Bullish
Timeframe : 1 hour
In fact, 16 technical indicators on 18 studied are currently positioned bullish. Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : 1 hour
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Previous candle closed over Bollinger bands
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : Weekly
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 71.87 | 73.46 | 75.79 | 76.07 | 78.28 | 80.68 | 82.50 |
| Change (%) | -5.52% | -3.43% | -0.37% | - | +2.91% | +6.06% | +8.45% |
| Change | -4.20 | -2.61 | -0.28 | - | +2.21 | +4.61 | +6.43 |
| Level | Intermediate | Minor | Major | - | Intermediate | Major | Minor |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 71.01 | 71.73 | 72.74 | 73.46 | 74.47 | 75.19 | 76.20 |
| Camarilla | 73.28 | 73.44 | 73.60 | 73.76 | 73.92 | 74.08 | 74.24 |
| Woodie | 71.17 | 71.80 | 72.90 | 73.53 | 74.63 | 75.26 | 76.36 |
| Fibonacci | 71.73 | 72.39 | 72.80 | 73.46 | 74.12 | 74.53 | 75.19 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 70.17 | 71.52 | 72.30 | 73.65 | 74.43 | 75.78 | 76.56 |
| Camarilla | 72.50 | 72.70 | 72.90 | 73.09 | 73.29 | 73.48 | 73.68 |
| Woodie | 69.90 | 71.38 | 72.03 | 73.51 | 74.16 | 75.64 | 76.29 |
| Fibonacci | 71.52 | 72.33 | 72.83 | 73.65 | 74.46 | 74.96 | 75.78 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 56.56 | 63.38 | 68.87 | 75.69 | 81.18 | 88.00 | 93.49 |
| Camarilla | 70.99 | 72.11 | 73.24 | 74.37 | 75.50 | 76.63 | 77.76 |
| Woodie | 55.91 | 63.05 | 68.22 | 75.36 | 80.53 | 87.67 | 92.84 |
| Fibonacci | 63.38 | 68.08 | 70.98 | 75.69 | 80.39 | 83.29 | 88.00 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 73.43 | |
| MACD (12,26,9): | 0.5300 | |
| Directional Movement: | 32.35 | |
| AROON (14): | 85.71 | |
| DEMA (21): | 74.57 | |
| Parabolic SAR (0,02-0,02-0,2): | 73.81 | |
| Elder Ray (13): | 1.72 | |
| Super Trend (3,10): | 73.93 | |
| Zig ZAG (10): | 76.29 | |
| VORTEX (21): | 1.0500 | |
| Stochastique (14,3,5): | 76.69 | |
| TEMA (21): | 75.16 | |
| Williams %R (14): | -20.07 | |
| Chande Momentum Oscillator (20): | 4.02 | |
| Repulse (5,40,3): | 1.1100 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0200 | |
| Courbe Coppock: | 6.20 |
| MA7: | 73.95 | |
| MA20: | 74.57 | |
| MA50: | 74.64 | |
| MA100: | 71.89 | |
| MAexp7: | 75.02 | |
| MAexp20: | 74.05 | |
| MAexp50: | 73.78 | |
| MAexp100: | 74.14 | |
| Price / MA7: | +2.87% | |
| Price / MA20: | +2.01% | |
| Price / MA50: | +1.92% | |
| Price / MA100: | +5.81% | |
| Price / MAexp7: | +1.40% | |
| Price / MAexp20: | +2.73% | |
| Price / MAexp50: | +3.10% | |
| Price / MAexp100: | +2.60% |
Quotes :
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15 min delayed data
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NYSE Stocks
News
Don't forget to follow the news on CVS HEALTH CORP.. At the time of publication of this analysis, the latest news was as follows:
- CVS HEALTH REPORTS FOURTH QUARTER AND FULL-YEAR 2023 RESULTS
- CVS Health adds two new renewable energy projects with Constellation
- New report from CVS Health® highlights opportunities for the future of community pharmacy
- CVS Health to Hold Fourth Quarter and Full Year 2023 Earnings Conference Call
- CVS Health announces leadership appointments
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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