Rising Wedge and Ascending H&S, leading to a break down over a weak uptrend line down to the .618 Fibonacci line Rising wedges and H&S patterns are both considered bearish Attaching my thoughts about the ascending H&S
MERCK (MRK), D1: Support line + Side of Bollinger bands + Hidden divergence + 2 Hammers
Monthly cup and handle, looks nice. Thanks to yamgaexpress for pointing this out..
MRK is approaching our first support at 66.70 (horizontal overlap support, 100% fibonacci extension, 50% fiboancci retracement) where a strong bounce might occur above this level pushing price up to our major resistance at 74.94 (50% fibonacci retracment, 61.8% fiboancci extension). Stochastic (21,5,3) is also approaching support where we might see a...