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MERCK DRN ED

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MRCK34 trade ideas

MRK - Too Good To Be True?The price here has focused into the obvious descending triangle for almost about a year now! It is not obvious if it will hold or not, but the current company health especially regarding profitability along with price action point towards a downward move, especially after the bullish momentum over the last couple of days. This play is being taken to play on the chance that the stock continues to retrace some of its gains from the past week, ideally before the next earnings report. Let's see how it goes down; it should be a very short-term trade. Stop @ 60.13 Target @ 57.09
NYSE:MRKShort
by themdtrader
2
Dow drops once again #31 (MRK)Technical Concept: Support broken becomes Resistance (Red Arrows= Resistance) (Blue Arrows= Support) I not use sophisticated Technical jargon in an attempt to "Persuade" and "Impress" the reader because I not a Charlatan I do not use fancy Charts plenty of Indicators, Oscillators, and other stuff, all in a stock chart in an attempt to "Impress" the reader with my knowledge because I not a Tutor or Mentor. I am not either a Business man, Engineer, Doctor, Inventor or Innovator; this requires different skills and personalities Who I am? I am End of Day Analyst and Stock Picker, I support myself in Charts, but I not self-proclaimed Technical Analyst Expert I do not fall into the mistake of comparing and affirm that Technical Analysis is better than Fundamental Analysis . I am a person without Higher Education, and not have Math Skills. I am a right brain oriented person and I focus in my strengths, for this reason I use Charts and I no try to become a Quantitative Trader, since it is a lost cause, in my case. I dedicated 10 lonely years of deliberate practice and in this process, I eliminated all kind of thoughts. I open and reset a lot of Demo Accounts for this purpose I tried and practice with different Markets (Forex, Options and Stocks) with different Time Frames (Intraday, Scalping, Swing/Position). I tried Mechanical Trading too, But definitely I am Discretionary Analyst or Qualitative, It took me years to know it, and a lot of books. I've learned by myself, but I do not think I'm smarter than others, “Ego is a sin” What I do? I pick Stocks manually I watch one by one without the use of a Stock Screener I follow approximately 1300 to 1400 Stocks , with different market cap I have no preference for a particular industry I follow 10 Industries even Public Utilities I do not follow Penny Stocks and Over-The-Counter stocks I not follow Stocks with an Avg_Volume bellow 100,000 with (Low Liquidity) I use a simple method based in Support and Resistance , accompanied with moving averages, and I do a Top down Analysis with multiple time frames My first view of a Stock is a 10 year Weekly Chart, Then I do a zoom in and I focus in the action of the last 2 or 4 Years, I look my Daily Chart and 4-Hrs Chart too I understand the concept of Short Selling and spend hours searching this kind of patterns including the weekends. What I can do for you? I can put ideas in the desk of Professional Traders, the ideas are based in Price Patterns + Price Action, and they can trade with your own system or set up My ideas are not influenced by the media or my neighbors, This was my Resume and Cover letter Sincerely Alex_Quiroga
NYSE:MRKShort
by Alex_Quiroga