Merck MRK daily has 5 monster volume days where gap UP's then...

206 3
What do you make of this pattern of volume in Merck MRK here on the daily chart?

Each time this has happened since January it has moved higher, but I think it is distribution by a massive seller, akin to the days of Jesse Livermore. It is so unusual that I'd have to say in my nearly 30 years of watching charts that I haven't seen a chart look like this before. If MRK can break under one of these support lines, then it could mark the end of this uptrend. Granted I don't see tremendous downside risk, perhaps 10% or so.

Strategy: Sell short going under 57 with a 59 stop. Target initially 54-53.

Tim 4:16PM EST, May 6, 2014 57.11 last -1.52
Subscribe to my indicator package KEY HIDDEN LEVELS $20/mo or a discount for a year and join in the trading room KEY HIDDEN LEVELS here at TradingView.com
Very good
Fantastic results. I captures a little portion of this move thanks to you. (56.60 to 54.9) Thanks!

Any thoughts for a switch to a long trade?

Seems that for a longer term core portfolio holding this would be a good opportunity.

3%+ dividend. The 53/54 level should hold and I'm fairly confident that MRK will be trading in the 60's very shortly. (early summer)
Well it's been a fairly good long trade every time that we've got down to this trend line.

However, I do like the short trade here. Upward channels typically break to the downside.

Your strategy looks safe.
+1 Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out