Crinklebine
Short

MRK Short using Inside Bar on Daily (Trade has tight stop)

BATS:MRK   MERCK & CO INC
204 2 0
Short MRK             at above $41.25. Stop on a daily close above $41.66. We have the benefit of a tight stop. Target one is $40 take half off. Target two (final target) $38.34.

20ma is also crossing 200ma. Stock below all moving averages . Stock looks weak and poised for more downside.
Based on 41.25 entry; Risk -1%; Reward T1 3%; Reward T2 7%
Reply
hutzone
3 years ago
The only concern I have is 1.3% first traget, it little not worth it, the set up look good for short but the reward is to small . good luck
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