/biz/ - Business & Finance

Should I liquidate CVS? Bought 345 CFDs (X5 leverage) at 60.74. My target is 71.12 for 3581.10$ profit. Waiting for algos to fire up when price is close to 69.50 to close the huge gap. If current stock price rises by 2% three days in a row or 3% two days in a row, it should get there. I opened my position almost a month ago, after earnings. It beat expectations and results were much better than last year. They did not withdrew year guidance. I work at a pharmacy (not in the US, though) and things have been pretty good (compared to what everyone is expecting) in Q2 so far. Looking at current economic situation, sector performance and company balance sheet, fundamentals are solid, IMO.

Thing is, I'm not sure how June will play out. Tomorrow SP500 should fire up (since the month is almost over) but that could kill the juicy in the beginning of the month and CVS could continue to consolidate in the 68-64 range for weeks. CFD fees are now at 4.18$ per day (almost 3 fold what they were initially) and I'm not certain when will CVS hit the target (assuming nothing changes). Should I take the chance and run with my gut or sell now and lock in half my profit?