CVS stock chart price target

CVS daily Jan 9th

I finished cleaning up the Short Setups category yesterday and hope to have the Active Short Trades category updated today.  I will be removing all active trades that have either exceeded their previously suggested stop criteria as well as those that no longer attractive from a risk/return perspective.  This will make room for some new trade ideas which will be posted throughout the remainder of the week.  As there are quite a few attractive new trade setups, email notifications will only be sent on those trades at or close to triggering an entry.  Once all new trade ideas have been published, an email notification summarizing all new trade ideas will be sent out to those subscribed to receive email alerts.

On the XRT  (retail ETF) chart posted yesterday, a case was made for a correction in the retail stocks.  CVS (CVS Caremark) is one of the components of XRT that looks to offer an objective short entry on a break below the 69.15 level, which was yesterday’s low.  The first price target (T1) is 67.08 with the second and final price target at 63.08.  The suggest stop for my preferred target (T2 at 63.08) would be on a move over the 72 area, lower for those targeting T1.  Click here to view the live chart of CVS.