CVS Health (CVS) has a bullish turnaround underway after a three-year bear market cycle culminated in a shakeout of "weak" holders in December. Shakeouts are usually associated with investor capitulation, leaving major lows in their wake. Long-term momentum shifted meaningfully behind CVS in March, when the monthly MACD confirmed its first "buy" signal since September 2019. The turnaround phase comes within the context of a secular trading range that has had a hold since 2015. [Chart: CVS Health Corp. (CVS): Weekly Bar Chart + Cloud Model + Relative Strength vs. SPX] CVS broke out above resistance from the weekly cloud model (shaded area on the chart) in June, which confirmed that the cyclical downtrend had been reversed in a long-term bullish development. A higher low has been established

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