bertolinitrading

Merck Monthly Trying To Make New Highs

NYSE:MRK   MERCK & COMPANY INC (NEW)
Noticing twitter finance talking about that drug company Merck             a lot the last few days and I noticed this monthly chart today. This monthly charted is something to get excited about. Closing monthly bar above the December 2007 high of $61.62 at the end of January would be good. No position myself right now.

Some easy profit targets would be long here and the Fibonacci 127.2 and 161.8 extensions from that ridiculous 16 month "pullback". Target 1: $72.79 take some off or wait for Target 2: $87.23. Probably not a great momentum swing play. Could take a year to get there, not that there's anything wrong with that :)
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