Long Term Attempt (Jan 2021)Merck (January 2021+)
Low: $41
High: $140
I expect this could be very wrong but I think its still good practice to try and look at major trends before looking at sub-waves.
To me it looks like either some sort of giant H&S at the moment or could turn into a channel as well.
Related idea has my short term 2021 forecast attached below:
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MRK trade ideas
MERCK & CO : BEARISH BAT PATTERN - POTENTIAL R/R 1.88% 🔔Welcome back Traders, Investors and Community!
Analysis of #MRK
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Strategy: Bearish BAT With potential Max R/R 1.88%
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ABC Bullish Pullback Fishing LONG AFTER FALL IS COMPLETE from rising wedge pattern. There is NOT a clear uptrend yet. If it hits long entry price without an uptrend, Think twice before entering
MRK has fallen from a bearish rising wedge and hopefully fall is complete. Beware that rising wedge pattern has completed it's fall and that C does not change
Short interest is low
It Does look like it is trying to bottom though
Long entry only valid if price breaks entry point in a confirmed uptrend
Possible targets 2 97.6 to 102.5
Possible stop below 78.2
Not a recommendation
NV has decreased but usually increases if large players positions are threatened
Short is low
Fall from Rising and Narrowing WedgeThis pattern shows up in charts when the price moves upward with pivot highs and lows converging toward a single point known as the apex.
It differs from triangle as both trendlines slope up.
It is most often bearish at the top
NV has slacked off
But short interest is decreasing so perhaps recovering and found support
Just an observation
MRK Long, at Demand Zone High quality Fresh Demand Zone ;
Fib# 50% retracement
Entry 81.5
Stop 79.5
Target 88; reward:risk=3:1
10/28/2020 Earning.
I am not a PRO trader. I need few months to practice trading strategies.
If you like this idea, please use SIM/Demo account to try it, until my trading plans get high winning rate.
MERCK 87 Health BuffMERCK bullish pattern and trend.
May take some days, so possible pullback and bounce on the lower support (green line).
Could also channeling sideways, who knows. Difficult to lose with a warp speed candidate anyway.
BUY ON FRIDAY!
PT:87 at least
Stop if breaks green line.
Covid/Trump play.
$JNJ $MRK $ABT