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Jan 14, 2019 9:10 AM

MRK Approaching Support, Potential Bounce!  Long

Merck & Company, Inc.NYSE

Description

MRK is approaching our first support at 66.70 (horizontal overlap support, 100% fibonacci extension, 50% fiboancci retracement) where a strong bounce might occur above this level pushing price up to our major resistance at 74.94 (50% fibonacci retracment, 61.8% fiboancci extension).
Stochastic (21,5,3) is also approaching support where we might see a corresponding bounce in price.
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