Shares of CVS Health Corp (NYSE:CVS) are surging today. The stock is up more than 3.5% following this morning’s solid Q1 earnings report. CVS is extending yesterday’s pre-earnings breakout as it drives its gain off the March lows to 17%. We expect more upside for the stock. Initial target is the 2018 high ($84).
Despite trading at new 2021 highs, CVS is far from overbought (daily MACD). Volume is running quite heavy the last two sessions (total gain = 5.5%).
Note: We have no position.
You can read Gary S. Morrow's original post here.