- CVS Health Corp. Companies (NYSE: CVS) Inc. stock price is trading above 20,50 and 100-day EMA levels.
- CVS Health Corp.Companies Inc.’s market cap is $94.2 Billion.
The stock price of CVS Health Corp. (NYSE: CVS) is moving upward in the present market conditions. The price dropped by 40% after hitting a peak of $111.25 in February 2022. It did, however, find support at the $67 mark, which caused a trend reversal.
The price of CVS stock is currently getting close to a big resistance level at $72, and signs point to a potential breakthrough. According to the analysis, there is a solid market structure and a general rising trend. The price is forecast to rise further towards the $80 mark if it successfully breaks over the resistance.
The CVS Health Corporation’s stock price is currently at $71.38, an increase of 1.7% from last week. The CVS stock has shown a growth of 23.7% since last week. This indicates that the stock is performing well and point towards a possible uptrend in the future.
CVS Health Corp. (NYSE: CVS) Stock Price Analysis
EMA (Exponential Moving Average)
The price of CVS is currently trading above the EMA levels, which indicates the beginning of a bull run based on the daily period market scenario.
MACD (Moving Average Convergence Divergence)
The MACD line for the CVS Health Corp. (NYSE: CVS) equities is above the signal line on a daily time period, further supporting the bullish trend.
RSI ( Relative Strength Index)
The CVS stock’s RSI is currently trading above the SMA line, which is an indication that the stock still has strength.
Volume Analysis
Buyer interest is increasing when volume on the CVS Health Corp.Companies, Inc. (NYSE: CVS) chart increases. A rise in trade volume, which can be seen as confirmation of price movements is frequently a sign of increased market activity.
Conclusion
In conclusion, the analysis points to a favorable market structure and sizable positive momentum for CVS . Also, Important indicators like MACD, RSI, and EMA, suggest that there is a possibility that the price of stock may move upward and rise in the future, providing additional support for this optimistic picture.
Technical Levels
- Support – The current support level of the CVS stock is $67.
- Resistance -The current resistance level of the CVS Health Corp. (CVS) stock is $72.
Disclaimer
The views and opinions of the author, or anyone named in this article, are for informational purposes only. They do not offer financial, investment, or other advice. Investing or trading crypto assets involves the risk of financial loss.