CVS Health (CVS.US) stock fell 5% despite the fact that the drugstore chain reported upbeat quarterly figures. Company earned $1.30 per share, well above market expectations of $1.24 per share. Revenue came in at $69.55 billion, compared with $68.75 billion expected as prescription volume lifted sales and the drugstore chain attracted new customers with Covid-19 testing and vaccines. However the company warned that the current quarter will be its lowest earnings quarter for the year because of the weaker flu season and investments to its Covid vaccine program.
CVS Health (CVS.US) stock fell sharply after the US open, however sellers failed to break below the upward trendline and price returned to $71.35 level. If buyers will manage to break above it, then another upward impulse towards resistance at $77.29 could be launched. On the other hand, should a break below the aforementioned trendline occur, then downward move could be extended to the $65.70 level. Source: xStation5
