The Long Investor
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$CVS
🕑 Added 2025-01-13 17:28:10 +0000 UTCThere is a strong argument to suggest that $CVS is ready for a reversal.
Price has pulled back in 3 waves to the 0.78 Fib at $42 and held
Price has now bounced and up +6% on a difficult day for the market
200 WMA is all the way up at $80 and the current price is $51
ABC pull back lasted 10 years!
Fundamental remains strong and still profitable.
Dividend is +5%
I believe $CVS is primed for a take over and $AMZN could have its sights on this too to improve logistics but would likely sell loss making assets and a lot of stores.....while also eliminating a large competitor.
Worth watching closely for a move back up to the 200 WMA.
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https://www.justice.gov/opa/pr/justice-department-files-nationwide-lawsuit-alleging-cvs-knowingly-dispensed-controlled
