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CharlestonTrader
Oct 30, 2021 10:42 AM

$MRK Breaking out of two year accumulation zone into new ATH's. Long

Merck & Company, Inc.NYSE

Description

Merck is looking primed for a run into the $90's or higher after breaking 2 years of accumulation on the weekly chart. Ideally I want to see this hold the $84 support level and then bounce back through the all time high's.

There is also huge call flow the past two days. One option chain that is getting some attention is Nov 19 $90 calls.

Morgan Stanley also raised guidance from $88 to $90 and maintained equal-weight on the stock.

Bullish.
Comments
CharlestonTrader
PFE news killed this play, but left with a nice gap downward to buy at the bottom. Close above $84 should take us back to $90.
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