CVS Health (CVS) is down sharply Friday -- about 10% -- in response to reports that it's in talks to acquire primary care chain Cano Health (CANO) and a Medicare Advantage plan downgrade. In the daily bar chart of CVS, below, we can see that the shares have gapped lower this Friday. The daily On-Balance-Volume (OBV) line turned lower in early August giving you a "heads up" that sellers were being more aggressive ahead of this current sharp decline. The downside price target from this pattern is in the $75-$70 area. In this weekly Point and Figure chart of CVS, below, we can see a potential downside price target in the $71 area.

Source: Fox News October 08, 2022 00:44 UTC