US equity market ended on a positive note for a second consecutive day on Tuesday with better than expected results contributing to the early strength. Economic data was limited to the Existing Home Sales report for September. After declining for the first time since March, existing home sales rebounded rising 2.4% to 5.17 million SAAR from an unrevised 5.05 million SAAR. Retail sales along with Consumer Price Index data is due on Wednesday and is expected to come positive for the economy supporting the bulls in the market to further rise the market in green territory.
STOCK SUMMARY:-
CVS Health Corp is overall in bullish trend and is sustaining at higher levels on chart. Traders can buy the stock above the level of $83.50 which is a near term resistance level for the stock, and if it manages to breach this level further bullish movement is expected in this stock to test the levels of $86.50.
CHART FORMATION
Stock is in bullish trend for near term and price is testing the resistance level with price taking support from the trend line with good consolidation on daily intraday chart. Near term breach of support level of $83.50 is expected, which would trigger further bearish sentiment in the stock to test the levels of $86.50.
INDICATORS:-
RSI is trading with positive bias and is sustaining above the level of 50.
In MACD, signal line is sustaining above MACD line which is indicating bullish sentiment in the stock.
CVS
HEALTH CORP
Recommendation
Buy above $83.50
Target
$86.50
BULLS
OF THE STREET (NYSE)
|
Name
|
Close
Price ( $ )
|
Change
%
|
|
Midstates
Petroleum
|
03.17
|
16.97
|
|
Baltic
Trading
|
04.04
|
15.76
|
|
Centrus
Energy
|
08.09
|
15.74
|
|
Nuverra
Environmental Solutions
|
09.23
|
14.23
|
|
Herbalife
|
52.81
|
12.10
|
BEARS
OF THE STREET (NYSE)
|
Name
|
Close
Price (
$ )
|
Change
%
|
|
Rhino
Resource Partners
|
04.90
|
58.79
|
|
Ocwen
Financial
|
21.48
|
18.20
|
|
ITT
Educational Services
|
10.75
|
15.22
|
|
NQ
Mobile ADS
|
08.33
|
10.04
|
|
Atlantic
Power
|
02.29
|
08.76
|
CVS Health Corp is overall in bullish trend and is sustaining at higher levels on chart. Traders can buy the stock above the level of $83.50 which is a near term resistance level for the stock, and if it manages to breach this level further bullish movement is expected in this stock to test the levels of $86.50.
CHART FORMATION
Stock is in bullish trend for near term and price is testing the resistance level with price taking support from the trend line with good consolidation on daily intraday chart. Near term breach of support level of $83.50 is expected, which would trigger further bearish sentiment in the stock to test the levels of $86.50.
INDICATORS:-
RSI is trading with positive bias and is sustaining above the level of 50.
In MACD, signal line is sustaining above MACD line which is indicating bullish sentiment in the stock.
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