CVS (CVS Health Corp) will trigger a long entry on a break above the 63.63 resistance level with a buy trigger to come on any print of 63.41. The buy trigger of 63.41 is set slightly above resistance to help minimize the chances of a whipsaw buy signal. The price targets are T1 at 66.61 & T2 at 69.53 with a suggested stop on any move below 61.30. The suggested beta-adjusted position size is 1.0. 60-minute chart below:
CVS also has the potential to morph into a longer-term trade based if the technical posture of this weekly chart continues to firm up with the stock rallying soon. With the potential for additional targets to be added to this trade as well as the fact that CVS has a dividend yield of 3.3%, it will be added as both a Long Swing Trade Setup as well as a Growth & Income Trade idea.