$CVS Setting Up as Undercut & Reverse (U&R)?

2023年8月17日

CVS released news today that Blue Cross of CA will no longer use them for prescription management. As a result, we have a big sell-off which may be overdone. TBD. I am looking at this as a potential U&R. I have it measured against the most recent lowest low of $66.34. I have an alert set crossing over $66.40. If that triggers and on a 5-minute chart and it looks bullish I’ll enter with a stop just below $66.34. This is a higher risk trade; however, risk can be minimized by using a stop just under that lowest low. Let’s see what happens. It may just continue to fall. I do not know.

Ideas, not investing / trading advice. Comments welcome. Thanks for looking.

2023年8月18日

交易進行

Stopped in this morning @ 66.65. My stop is just under pre-market lows... just under 1% risk. Let's see what happens.

2023年8月23日

手動結束交易

This thing is just lagging. Money is better in, say, NFLX of which I am long and looking to add. Lost $0.20 per share.