Market Analysis for Jun 29th, 2021

Jun 29, 2021 - 10:10 AM EDT

Good morning, this is your captain Rick speaking, final boarding call for CVS before the liftoff attempt. 📣

Now, $84. At this point, likely dead wrong/not immediately ready if below $76. Same $110-110 target, then re-assess.

Prev thread June 15th: https://www.elliottwavetrader.net/trading-room/thread/7045958

Generously shared many freebies, but zero shoutouts lately. Might need to hire a marketing intern soon 😈
CVS - a buying opportunity on any dips moving forward. Now, flagging aggressively around $83-85 on weekly TF.
Bonus shared at $78 on May 3rd before breakout into $90. $110-110 target remains do-able.

Initial thread May 3rd: https://www.elliottwavetrader.net/trading-room/thread/6953410

Sharing last bonus for today, want you to some time to do homework here to see if it fits your own assessment:
I think I mentioned CVS a couple months ago. Either way, it's still doing the same ongoing multi-month breakout pattern
Decent risk vs reward...intermediate-long term swing long.
Looking for $100-110 tgt. Now, $78 CVS
Likely too weak/wrong if below $65....meaning more consolidation ahead instead of breakout

CVS JUNE29_WEEKLY

CVS JUNE29_WEEKLY

Ricky Wen is an analyst at ElliottWaveTrader.net, where he writes a nightly market column and hosts the ES Trade Alerts premium subscription service.

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