In early March, $CVS was falling sharply towards the $52 area. Will CVS's Innovative Efforts Save its Shares From Further Bleeding?This is a name that has been bearish for more than 3 years after topping around $113.50. After shedding more than 50% from that top, price was at a channel support. A few months later, price still remains above the $52 handle, and has been trading in a consolidation range between roughly $52 and $57.75.CVS Daily Chart(click to enlarge)Consolidation Range:- Price has been trading sideways, but that does not mean we have a price bottom.- A break above $58 would complete a price bottom and signal some upside, but I suspect this upside would be limited. - I think there would be some resistance around $63, and would limit any bullish outlook to the $70 handle, which is right around a previous support/resistance pivot. - Looking at the weekly chart below, I can see further downside to at least $44, and maybe to $40.CVS Weekly Chart(click to enlarge)