Broke out of its wedge today and is testing the 200 Day MA now on the daily chart.
This is on the strength of $CVS announcing an upbeat Revenue Guidance and increasing their dividend payment too.
Just above the 200 Day MA is the 0.65 Fib at $72.60 and our blue line, so getting back above this level will be a good sign and showing that the trend is to the upside again....this will also bring $CVS out of the buyzone too.
$CVS has been consolidating since April, so this will be a welcoming move now if the price can break above $72.60
Baktash Azizi
2023-12-08 19:54:18 +0000 UTC