Strategist Highlights $82-$86 Range for CVS Health Shares

Freedom Capital Markets Chief Market Strategist Jay Woods singled out the $82-to-$86 range as a test for CVS Health Corp. shares amid a strong three-month stretch for health care.

Woods estimated that the health care sector was up 15% year to date as of Oct. 20. He described the sector as one of the market’s stronger areas over the preceding three months.

Reading a one-year daily chart, Woods treated $82 to $86 as a support range and assessed that CVS shares had moved beyond a short-term downtrend. His five-year weekly view frames $110 as a possible resistance test if the shares continue rising.

Those levels reflect his chart assessment.