S&P 500 Market Outlook: Bullish
Bullish Trade: CVS $66.39 – Health Care
The bullish DailyPlay we chose for Friday, Nov. 1, is CVS Health (CVS). CVS has a very strong Technical Score of 9 because it is one of the biggest and most important disrupters in the pharmacy, pharmacy benefits management, primary care and health insurance industries. And it’s not affected much by trade wars or even domestic politics. CVS is showing strength during the SPY dip to $303.33. CVS is knocking on the door of its $67.37 resistance. Support is about $65.34.
As a stop loss, if CVS was to trade below $65 for multiple days, this would invalidate our analysis and suggest cutting losses on the trade.
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