Today’s Trade Setup On CVS

October 12, 2014 0 Comments

Can CVS contiune making all time highs or do we pull back to a support level then break out. So lets break CVS down on the daily chart CVS support level will be Friday’s low $81.68, Wednesday’s low $81.05 and then 23.6% level $80.89 if that breaks look around $79.02 and your resistance levels 50% $82.98 and Fridays’s high $83.45

CVS_CHARTS

How I will be playing this for a day trade is watching the first 5 min candle and seeing if CVS can break the 5 min opening range. If CVS breaks the 5 min opening range and the future are green I will be looking to buy into CVS but if I see the futures selling off and CVS breaking the 5 min opening range to the down side I will be looking to buy into CVS at one of the sopport levels. Not sure how to trade the 5 min opening range? Join our email list and contact us and we can go over these style of trades.

As always trade at your own risk and trade safe,

LT

 

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