4MRKX trade ideas
MRK- Donchian Channel Breakout- Buy signalEarnings winner on Keytruda sales. In @ $77.00. Tight stop - half the way down on today's candlestick ~ $76.49. (I am not about to lose money on this one-much). Has support at $76.50 ish. Nice long strong uptrend, hopefully the momentum will last. Will close after a 2-3 day swing. Will trail stop @ the 3 ema if it continues up - surfing the wave. Target could be $80, about a 3.5R trade.
Confirmation: RSI and stoichastics up - hopefully previous chop will resolve now that earnings is done.
Merck & Co. ... & Health & MedsThe stock appears to have formed a double wedge. It has gone up through 2018 and showed great resistance to market volatility. It has a great chance of breaking upper wedge and reach up the 52-week high.
Remember that earnings date is coming and this may be the good catalyst for confirmation of the breakout which will probably happen before earnings.
MRK in a bullish flag patternI think MRK will continue to go up to $79 -$80 from its current price as it is currently in a consolidation status.
MRK Approaching Support, Potential Bounce! 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 corresponding bounce in price.
Low risk setup for MRKWhy is this setup good?
Strong contextual uptrend
Price continues moving in the direction of main trend since it bounced at support EMA(100) and EMA(50)
Momentum building on MACD 12-26, MACD signal line crossed the 0 line
First reaction (contraction) since MACD crossover
Trigger Candle testing EMA 3, 6 and 18
Low Setup Risk - just 1.29% in risk
Entry rules:
Buy Stop order or Manual Buy at 79.58 at the next interval(candle) open
Cancel the order at the end of the day if 79.58 does not get triggered
Stop Loss (S/L) level at 75.26 (adjust position size accordingly, don't risk more than 3% for your current account balance)
Trade management
-Move S/L to break-even when price CLOSES above 76.70
Exit rules:
-Target 79.58 (Risk-Revard ratio ~3.41)
MRK - SHORTHead and shoulder pattern, right shoulder looking like it is currently in formation. Currenly prices are right at previous resistance and support. If 76.38 is bounced from, short target is at the next level of support at 72.78
RSI and Stoch indicate market is strongly over bought, which further point toward a short play being the case over the next few days.
MRK ShortShort based of channels and fibs
My Entry: 75.07 (any entry under 75.00 is okay)
Stop Loss: 78.00
PT: 61.00 area
Risk/Reward: ~1:7
This trade has a low probability of working, but it does fit my system, and if it moves in my direction the reward is very high. This trade will most likely take 6 months to a year.
MRK more upsideMRK shares are gaining alongside very bullish buy signals. This + a very strong sector should add to the momentum for higher share prices.
DISCLOSURE: long MRK
MRK breaks out to new 52-week highs quietlyThe Health Care sector has been showing very nice breadth. MRK remains a leader in this tape.
Eisai And Merck Announce FDA Approval Of LENVIMA® MRK: Merck
2018-08-16 16:11:00
Eisai And Merck Announce FDA Approval Of LENVIMA® (lenvatinib) Capsules For First-line Treatment Of Unresectable Hepatocellular Carcinoma (HCC)
MERCK shares Buy IdeaMERCK shares Buy Idea @Weekly Demand Zone (54.49 - 52.86)
Buy Limit: 54.48
Stop Loss: 52.68
Take Profit: 59.27
Bearish Butterfly & Bearish SharkBearish butterfly (with bearish divergence) has completed and price transitioned into a small bearish shark. The bearish Shark is completing at a significant resistance level and showing reverse bearish divergence.
