Stocks This Week: Buy Analog Devices And CVS Health Corporation

&l;p&g;&l;img class=&q;dam-image ap size-large wp-image-799b88ec72e8474c9858f7c139f18dc1&q; src=&q;×0.jpg?fit=scale&q; data-height=&q;639&q; data-width=&q;960&q;&g; Photocredit: ASSOCIATED PRESS


The S&a;amp;P has surpassed the 61.8% retracement level of the prior decline, and the advance-decline line has already hit a new high. The stock market is likely to rally into the next projected turning point on the 22nd. The index is likely to reach a new high.

Analog Devices is an attractive short-term trade. There is a weekly cycle buy signal early in the week, and the company reports results before the opening on the 20th. A positive reception of the earnings announcement will likely propel the stock up to $110.

Chart 1

&l;img class=&q;size-large wp-image-192246&q; src=&q;×324.jpg?width=960&q; alt=&q;&q; data-height=&q;324&q; data-width=&q;1200&q;&g; The ADI weekly cycle bottoms as earnings are released.

Chart 2

&l;img class=&q;size-large wp-image-192247&q; src=&q;×502.jpg?width=960&q; alt=&q;&q; data-height=&q;502&q; data-width=&q;1200&q;&g; The stock is likely to rise closer to $110.

CVS Health Corporation also reports on the 20th before the opening. The stock has already responded positively to the weekly cycle upturn depicted below. All six buy signals have been successful in the last year. The technical picture in chart 4 is constructive. The share price has already broken out of a short-term base pattern. Momentum shows higher lows without being overbought, and relative strength has reversed its downtrend.

Chart 3

&l;img class=&q;size-large wp-image-192248&q; src=&q;×321.jpg?width=960&q; alt=&q;&q; data-height=&q;321&q; data-width=&q;1200&q;&g; This weekly cycle also has hit a low.

Chart 4

&l;img class=&q;size-large wp-image-192249&q; src=&q;×507.jpg?width=960&q; alt=&q;&q; data-height=&q;507&q; data-width=&q;1200&q;&g; The stock is likely to challenge $70 per share.&l;/p&g;

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