CVS Health Corporation Stock Forecast
CVS Health Corporation stock upgraded from Hold/Accumulate to Buy Candidate after Thursday trading session.
(Updated on Jun 13, 2024)
The CVS Health Corporation stock price gained 0.360% on the last trading day (Thursday, 13th Jun 2024), rising from 55.50€ to 55.70€. During the last trading day the stock fluctuated 1.62% from a day low at 54.86€ to a day high of 55.75€. The price has risen in 6 of the last 10 days and is up by 9.65% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 11 more shares were traded than the day before. In total, 524 shares were bought and sold for approximately 29.19€ thousand.
Given the current short-term trend, the stock is expected to fall -29.70% during the next 3 months and, with a 90% probability hold a price between 31.86€ and 39.16€ at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
CVS.F Signals & Forecast
Mostly positive signals in the chart today. The CVS Health Corporation stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately 55.82€. On a fall, the stock will find some support from the long-term average at approximately 54.15€. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Wednesday, May 29, 2024, and so far it has risen 12.53%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). CVS Health Corporation has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for CVS Health Corporation stock
On the downside, the stock finds support just below today's level from accumulated volume at 51.62€ and 51.46€. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, CVS Health Corporation finds support just below today's level at 51.62€. If this is broken, then the next support from accumulated volume will be at 51.46€ and 50.67€.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved 0.89€ between high and low, or 1.62%. For the last week, the stock has had daily average volatility of 2.59%.
Our recommended stop-loss: 53.64€ (-3.70%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 52 days ago.)
Trading Expectations (CVS.F) For The Upcoming Trading Day Of Friday 14th
For the upcoming trading day on Friday, 14th we expect CVS Health Corporation to open at 55.44€, and during the day (based on 14 day Average True Range), to move between 54.31€ and 57.09€, which gives a possible trading interval of +/-1.39€ (+/-2.49%) up or down from last closing price. If CVS Health Corporation takes out the full calculated possible swing range there will be an estimated 4.99% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at 51.62€ (7.32%) than the resistance at 63.58€ (14.15%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is CVS Health Corporation stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.626 Buy Candidate Upgraded
Predicted Opening Price for CVS Health Corporation of Friday, June 14, 2024
| Fair opening price June 14, 2024 | Current price |
|---|---|
| 55.44€ ( 0.473%) | 55.70€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CVS.F
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 56.33 | 1.13% |
| R2 | 55.99 | 0.515% |
| R1 | 55.78 | 0.138% |
| Price | 55.70 | |
| S1 | 55.10 | -1.08% |
| S2 | 54.89 | -1.46% |
| S3 | 54.55 | -2.07% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 68.50 | 22.98% |
| R2 | 65.48 | 17.56% |
| R1 | 63.58 | 14.15% |
| Price | 55.70 | |
| S1 | 51.62 | -7.32% |
| S2 | 51.46 | -7.61% |
| S3 | 50.67 | -9.03% |
CVS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 19, 2024 | Apr 19, 2024 | May 01, 2024 | 0.615€ | 0% |
| 2 | Jan 19, 2024 | Jan 19, 2024 | Feb 01, 2024 | 0.665€ | 0% |
| 3 | Oct 19, 2023 | Oct 19, 2023 | Nov 01, 2023 | 0.605€ | 0% |
| 4 | Jul 20, 2023 | Jul 20, 2023 | Jul 20, 2023 | 0.605€ | 0% |
| 5 | Apr 20, 2023 | Apr 20, 2023 | Apr 20, 2023 | 0.605€ | 0% |
FAQ
Click here for our free guide on how to buy CVS Health Corporation Stock.
