vmreyesa

CUP WITH HANDLE BREAKOUT

Long
NYSE:MRK   Merck & Company, Inc
Picture 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.
Comment: Great relative strength vs the indexes today. I don't think this stock is going to be a great winner but if im going to be invested its going to be in names like this. My overall exposure is less that 3%. This new rally attempt, showing signs of distribution just the next day after a FTD, is showing small odds of persevering.
Comment: Took 1/3rd profit at 1R. Moved stop loss to break even. It's all upside from here.
Trade closed manually: Sold at breakeven to de risk

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