Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Will Walgreens & CVS Be The Next Victims Of The Amazon.Com Invasion?

|About: CVS Health Corporation (CVS), WBA, Includes: AMZN

This past weekend every trader and investor are talking about moving into the drug and pharmacy business. Today, we see the two leading drug store stocks; Walgreens Boots Alliance Inc (NASDAQ:WBA) and CVS Health Corp (NYSE:CVS) drop lower on this news. It seems as if every business enters the leading stocks in that industry will feel its wrath. Earlier this year, many of the leading food and grocery related stocks declined sharply when announced that it was buying Whole Foods. 

Walgreens Boots Alliance Inc (NASDAQ:WBA) has been declining sharply since September 12, 2017 when it traded as high as $82.89 a share. Today, WBA stock is trading lower by $2.49 to $70.70 a share. Traders and investors must now watch the $66.50 level as the next major support area. This level is where the stock broke out in December 2014. Often prior break-out levels will be supported when retested. 

Nicholas Santiago