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.
Comments
hutzone
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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
Crinklebine
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Based on 41.25 entry; Risk -1%; Reward T1 3%; Reward T2 7%