The shares of Trifecta Stocks holding CVS Health (CVS) are still pointed to the downside on the charts this morning.
In this chart of CVS, above, we can see a peak for the price of CVS in late July. The On-Balance-Volume (OBV) also peaked before turning lower beginning in late July. To add to the troubles, we can see a death cross in October when the 50-day moving average declined below the 200-day average. The slopes of both the 50-day and the 200-day average are both pointed downward, defining the trend. Our favorite leading indicator -- momentum -- shows no bullish divergences to suggest a turn to the upside yet.
In this longer-term chart, above, we can see CVS below the downward sloping 40-week moving average. The OBV line is neutral on this timeframe. The Moving Average Convergence Divergence (MACD) oscillator crossed below the zero line for a sell short signal. Prices could keep falling toward the next chart support area around $80.