Stock Of The Day: It's No Coincidence CVS Health Stock Found Support Where It Did
Portfolio Pulse from Mark Putrino
CVS Health Corp (NYSE:CVS) shares found support at the $57.60 level, a previous resistance point, following a poor earnings report from Walgreens Boots Alliance Inc. (NASDAQ:WBA). This support level could indicate a potential rebound as remorseful sellers place buy orders, creating a floor under the shares.
June 27, 2024 | 4:51 pm
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POSITIVE IMPACT
CVS Health Corp shares found support at the $57.60 level, a previous resistance point, following a poor earnings report from Walgreens Boots Alliance. This support level could indicate a potential rebound as remorseful sellers place buy orders, creating a floor under the shares.
The support at $57.60, a previous resistance level, suggests a potential rebound as remorseful sellers place buy orders. This creates a floor under the shares, indicating a likely short-term price increase.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Walgreens Boots Alliance's poor earnings report has negatively impacted CVS Health Corp shares, causing concerns that CVS may face similar issues.
Walgreens' poor earnings report has caused a negative sentiment spillover to CVS, raising concerns that CVS may face similar issues, potentially leading to short-term price pressure.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 50