MRK $MRK Continuation ShortMRK $MRK Continuation Short. TP and SL on chart. Move SL on TP. After TP2, trail with 0.5ATR step and 1.5ATR offset.
4MRKX trade ideas
MRK wave count EW 4 hourLooking for MRK to complete the 8 wave cycle, currently in the final C leg. Target looking for 50% retracement of the 1-5 wave.
Merck and Company slowing down? Merck and Company
Short Term
We look to Sell at 93.34 (stop at 96.33)
We look to sell rallies. Price action looks to be forming a top. Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible. There is scope for mild buying at the open but gains should be limited.
Our profit targets will be 86.55 and 83.96
Resistance: 92.00 / 95.00 / 100.00
Support: 86.50 / 83.50 / 80.00
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Merck heading down as well. MRKOne more huge pharma firm that is biting the dust. A giant flat with a C wave confirmed. No way but down on this one.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Confirmation level, where relevant, is a pink dotted, finite line. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe.
Merck Co (global health care company) ShortMerck Co (global health care company) Short
Entry price: 91.23
Take profit: 83.21
Stop loss: 95.09
Risk/reward: 2.08
RectangleEarnings 7-28 before market opens.
ATH 96.69.
Horizontal trading channels that is neutral until a trendline is broken with a trend in that direction.
Targets above rectangle are targets to the upside if this were to break that way and vice versa.
If this were to break to the downside this would be a Rectangle Top.
No recommendation/Be safe (o:
Merck did follow the pattern...sort ofIt follows the pattern, but now the base is shifted. I expect it will stay at current level or rise a bit, before dropping after earnings towards the Dividend. If i had any money leftover, i would short it soon after earnings. Unfortunately my put options expired worthless. But that was my fault for buying at the wrong time.
Merck following the pattern....but the base has shiftedMerck definitely follows this pattern, but now the dam bottom has shifted to a higher plateau...my PUTS are just under this base, i think they will expire worthless, unless some massively bad news drops the stock back to the previous base.
Just like the last 4 or 5 dividends events....Just like the last few, Merck stock dropped as it approached the dividend. My only problem was it did not drop enough....my puts are the light blue lines. I guess we will see if the stock drops more enough for me to sell or if it goes up and does the pattern again.
6/20/22 MRKMerck & Company, Inc. ( NYSE:MRK )
Sector: Health Technology (Pharmaceuticals: Major)
Market Capitalization: $213.987B
Current Price: $84.62
Breakout price: $91.40
Buy Zone (Top/Bottom Range): $83.60-$79.90
Price Target: $103.20-$105.80
Estimated Duration to Target: 672-696d
Contract of Interest: $MRK 1/19/24 85c
Trade price as of publish date: $10.17/contract
MRK - Lower Volatility PeriodMRK has seen strong bullish movement in the past, right now it is in recovery phases of its last bearish move
This can be compared to an earlier phase in price development (in rectangle boxes)
Once this recovery is completed strong bullish movement should ensue, pushing price above the trend line in white
50MA is in white
Merck stock drops right around the dividend timeframeJust like the last 3 or 4 times, Merck stock takes a drop as it approaches or reaches the dividend date. Only problem i had was the amount it dropped. It seems each time, it drops 8-10 dollars a share.
Merck VCP BreakoutNice VCP with up volume clean breakout good %risk for positioning. Didn't buy as market is terrible and don't like defensive names as they are just names in which institutions are hiding. Its a bear market and I just want to keep my eye sharp on the patterns I like to buy from and be ready for when we have more favorable conditions. Let's see if it holds the stop.
CUP WITH HANDLE BREAKOUTPicture perfect cup with handle breakout. Market is very bad so taking 1/3rd partial profits at 1R and backstopping to breakeven. Next 1/3rd on 2R and let the last third run for a bigger.
ATH $96.69/When Will MRK Top Out?All time high is 96.69 from 2020.
Overbought on weekly but not on the daily or monthly timeframes.
There appears to be a bullish Bat at the Bottom before the move up in blue. Price took off at the .886 and has gone a long way since then. A Bat has it's reversal zone at the .886 and the A-B leg (retracement of the impulse wave) retraces 38.2% to 50% of the distance covered by the X-A leg.
The W that I see (white) encompasses the bullish bat pattern at the bottom, which is unusual but does happen. It could be a bearish Alternative Bat which can terminate near the 1.113 fib level. MRK has just hit this level, so now I am waiting to see indications of price topping out close to here. If price goes too much higher, then the pattern is invalidated. If price goes much higher, my next step would be to look for the 1.618 which is marked and would be an extended harmonic pattern known as a Crab.
Harmonic patterns have 4 legs. The first leg is the impulse wave and bullish harmonic patterns have this wave to the upside whereas bearish patterns have this leg to the downside. They are called bearish patterns as price reverses at the reversal zone on the last leg of the W, but if you know your patterns, this can be a great long, just get out at the end of that last leg, quick! I did well on this one but am setting a tight stop loss for now until I see what unfolds.
The Bullish Crab, Bat, Alternative Bat, Butterfly and the Gartley all have peak 2 lower than peak 1. The Cypher and the Shark have peak 2 higher than peak 1. In the bearish versions, Ws, you can reverse this and valley 2 is higher than valley 1. The 5-0 pattern is an exception to the W M appearance and the bearish version appears as a crooked M.
Possible Bearish diversion between price and RSI.
On monthly there could be a cup like formation, but on daily, it is not well rounded at the bottom. Price would need to break the ATH from 22 years ago to break out of a cup pattern (if this is one). Time will tell which pattern this is (o:
No recommendation.
23/5/2022 NYSE (MRK)Buy (Entry Price) within the buy zone area and exit (Stop Loss) below the red line. Can take profit at the suggested Target Price.
Entry Price: $92.81 / $93.69
Target Price: $94.02 / $94.94
Stop Loss: $91.60
MRK VCP action. don't like the higher vol last few days though.. took pos.. sold some and now risk free, if it comes back and hits my stop im out break even. nothing gainned but free shot..
MRK - Showing Strong Relative Strength1) Formed a 19-year Cup and 2-year Handle - A bullish Continuation Pattern
2) Price shows massive tightening on the daily with relatively muted selling volume and larger buying volume spikes
3) Spectacular earnings acceleration and strong relative strength compared to the overall broad market
4) The index itself (SPY, QQQ, DIA, etc...) is short term oversold and is probably due for a bounce soon. This should give the stock momentum to go higher.
5) Am long MRK at the breakout pivot @ $89 and SL @ $87.85. Given weak market conditions lately, will get out at a multiple or two of my stop.
6) NOT FINANCIAL ADVICE, happy trading!
MRK Put and CallBought a put and call of equal price in anticipation of a big move. High volume and open intent for $90 calls.
$MRK Large Base and Tightening Up$MRK has a large base that goes back to Dec 2019 (zoom out) that has been showing impressive relative strength recently and could be finally ready to move and act as a leader if this market can catch a bid.
Focus watch list stock.
$MRK with a Bullish outlook following its earnings #Stocks The PEAD projected a Bullish outlook for $MRK after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 71.43%.
MRK - Multi decade long breakout?
Monthly chart is showing nice accumulation at the ATH.
Everything seems to favor a breakout that should last a while.
Keep an open mind...these are golden set ups and offer plenty of time to enter.
Ideal entry is breakout and back-test.
