MRK Long, down trend line break and demand zone confirmedCondition:
#1 demand zone confirmed
#2 Down trend line break
Estimate: Gap (G1) up in next two days.
Earning Date: 7/28/2020. It will not affect this trading plan.
Stock Entry: Below 77.5
Stop: 75
Target1: 85; risk/reward=1:3
Target2: 88; risk/reward=1:4
This is a trading school homework. I need 6 months to practice trading plan.
If you like it, thank you for your support. Please use SIM/Demo account to try it, until my trading plans get high winning rate.
MRKC trade ideas
Rounded top Chart Pattern of MRK:What Is A Rounding Top Chart Pattern ? A chart pattern used in technical analysis which is identified by price movements that, when graphed, form the shape of an upside down “U”. A rounding top may form at the end of an extended upward trend and indicates a reversal in the long-term price movement.
A rounding top represents a sell signal . The initial upwards trend becomes exhausted as the demand for the stock dries up.
The reversal to the downward slope of the rounding top indicates that demand has tapered off and a surplus supply is present, basically there are more sellers than buyers.
The price will be move so far in-case of breakout any side cause, the pattern is too tight.
MRK-Short at 4 hr supply NYSE:MRK
MRK had a strong bearish correction at the start of the year and we believe that the stock price may continue to fall after a period of bullish rebound in 4hr.
However, do take note that if the stock's bullish rise breaks the high, then we will see the stock return to the strong bullish impulse.
Merck: Ichimoku Clouds on bullish setupIchimoku Clouds still confirm the bullish setup. Today's session will be important, if positive, to manifest further bullish intentions (Break of the $92.10 resistance).
Disclosure: My ideas contain statements and projections based on assumptions on capital markets, and therefore inherently subject to numerous risks and uncertainties.
Before buying or selling any stock you should do your own research and reach your own conclusion or consult a financial advisor. Investing includes risks, including loss of principal.
I am not a financial advisor.
MERCK IS DIRT CHEAP. $11 BILLION CANCER DRUG. SALES BOOMING!We keep seeing Clinical Stage Companies that are publicly traded, with new FDA Approvals, and the stocks are blasting off. Many of those are trading over $100 with no revenue, profits or earnings.
Here Merck is, sitting under $100, beating earnings, with record revenue and profit, and paying an almost 3.00% dividend....It is simply outrageous. Wall Street Corruption at it's best!
We took a long position at $82.00 several weeks ago.
We feel the stock is worth at minimum, $150.00 all day long.
KEYTRUDA alone, not counting any other products manufactured / developed by Merck, or any other divisions of Merck, is forecast to bring in over $11 Billion in sales.
Holding for the almost 3% Dividend and for the stock price appreciation into the future.
250,000 LONG @ $82.00
Best of Luck Everyone!