The stock is moving in a sideways parallel channel started at the beginning of 2017. This movement can be a redistribution or an accumulation phase, it depends if it breaks lower or higher. If the price breaks lower the minimum target is around 70 and if it breaks higher the minimum target is around 88. The breakout must be confirmed by very high volume to avoid...
So CVS looks to be in a pretty nice channel and trading pretty nicely inside it. I think two things could happen. 1, it could breakout of the channel in which I would buy in after the retest or 2, it could trade back down to support which I would buy at a really nice discount. Two entries on the chart, lets see what happens. It could also keep trading in this...
CVS ($CVS) Daily: $CVS appears to be on its wave 4 corrective move before starting and completing the final Elliot Wave, shown in this daily chart. Wave 3 retraced back to 0.618 fib level as it was expected, and appears to coil between $75-85 range for the time being. A break below the $75 level would indicate a move to its target of ~$60 price target.
Walgreens...
CVS showing a gartley pattern. While I don't usually go in for harmonics on stocks, there's a lot of confirming signals here. Plus it just broke major support. Short this baby!
Look for anywhere between a $65 and $75 target depending on your timeframe and general trading strategy.
