S&P 500 Market Outlook: Bullish
Bullish Trade: CVS $62.76 – Healthcare
The bullish DailyPlay we chose for Friday, Sept 6th is CVS (CVS). CVS is part of the Healthcare Sector (XLV). XLV has rallied 1.07% higher over the past month and its 1m and 6m trend remains bearish but has broken above its $91 resistance level and continues to print higher lows.
CVS’s 1m and 6m trend turned bullish on Aug 7th and recently bounced higher off its $60 support level. With a technical score of 9 (out of 10), CVS is a strong stock that will likely continue higher.
As a stop loss, if CVS was to trade below $60 for multiple days, this would invalidate our analysis and suggest cutting losses on the trade.
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