When putting together your watch list, focus on stocks with an 80 or higher RS Rating. CVS Health now meets that criteria, with an increase from 78 to 86 Monday.
As you try to find the best stocks to buy and watch, keep a close on eye on relative price strength.
This exclusive rating from Investor's Business Daily measures market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price behavior over the trailing 52 weeks compares to all the other stocks in our database.
Over 100 years of market history reveals that the best stocks often have an RS Rating of above 80 as they begin their biggest price moves.
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CVS Health is now considered extended and out of buy range after clearing a 90.71 buy point in a second-stage flat base. After falling below the the 40-week line, see if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight , or at least regains critical moving averages.
Earnings News
While earnings growth dropped in the company's most recently reported quarter from 52% to 9%, revenue rose 11%, up from 10% in the previous report.
CVS Health holds the No. 1 rank among its peers in the Retail-Drug Stores industry group.
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