MRK bounce up from bottom of rangeMRK has been in a range since end of Dec'18 until now. Last week's bar was a doji at the bottom of the range. The Daily chart is showing me an inverted H&S with a potentially weak right shoulder i.e. buying pressure is strong!
Target profit 1 is a near resistance as well as 50MA i.e. $77 area.
Target profit 2 is the top of the range at $85 area. A little ambitious and loner term though.
Disclaimer: I'm not giving trading and investing advice. Just sharing my chart observations.
If you have any symbol that you'd like me to analyze, feel free to drop me a comment.
Thanks!