Blue Horseshoe Stocks: CVS Options & More

CVS Health Corp CVS

First up this morning, we’re taking a look at CVS, which is currently boasting an interesting chart setup along with a recent analyst upgrade.

The stock recently ran to an area of previous resistance near $84, and is currently down in the premarket along with the markets in general, but we’re going to be looking for a recovery.

As you can see on the annotated chart below, there appears to be an impending Golden Cross, with the 50DMA rising toward the 200DMA, and with the company’s quarterly earnings call slated for February 8th, we’re going to signal some options that could see some nice activity.

We’re going to radar the CVS 02/09 $77-80 Calls which will expire at the end of next week, and could explode with a favorable quarterly report.


Ballard Power Systems, Inc. BLDP – Update

We couldn’t have timed yesterday morning’s call of BLDP any better, outlining the reasons we thought the stock was ripe for a reversal. Among other things, it had strung together ten consecutive sessions of decreases or sideways trading, and yesterday brought the beginning of the rebound that we suspected was due.

From an early low of 3.39, BLDP made a modest, yet convincing move of 19% to a high of 4.04, before closing very near to the high of day at 4.02. It’s a good start, and we’ll want to see the stock continue to record higher highs and higher lows, and show some signs of sustaining its momentum.

Adding to the possibility of a continued uptrend is a PR regarding the company’s Protonex subsidiary this morning outlining a government purchase order of $1.6M for its power management systems for special operations military equipment.(>>View PR)


Extended Watchlist:
ALV, EXTR, FCSC, MNTA, PTI, NSPR, TVIX

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