There was a time when Nen Ideas were 110% purely experimental. Back to the old school drawing board thinking about the potential futures for this stock and ignoring the fact that the future might not be predictable in a rational Universe of Unknown Variables and Undetermined events.
I look at the current price formation and ask 3 questions.
1. Is this a corrective construct that will lead to the popping of the price on the up?
2. Will we still be in a correction formation in the coming trading days, that can see the unfolding of a bearish wave before things settle into a more clear picture?
3. Do this prediction attempts are even relevant? Considering any time some big unforseen news can just shake the markets out of any detectable pattern?
I have designed some elements in this project as milestones or anchor points not reference points to see how random they are, or if the stock price evolution might be random or if the words that I type are actually almost random, considering there is no difference between the way that I write or the way that I draw something on TW.
Last 2 waves are the ones I am more interested in. A potential bull run after Earnings, maybe if it reaches the bottom plank, or a possible correction started from the marked price level above...
I have no clue if Merck will pop one way or another out of the current formation which looks highly intriguing, but something might be boiling in preparation for some resolution of the current picture (the squeezed price between the trend line and the top resistance arc zone.
This is experimental.
I look at the current price formation and ask 3 questions.
1. Is this a corrective construct that will lead to the popping of the price on the up?
2. Will we still be in a correction formation in the coming trading days, that can see the unfolding of a bearish wave before things settle into a more clear picture?
3. Do this prediction attempts are even relevant? Considering any time some big unforseen news can just shake the markets out of any detectable pattern?
I have designed some elements in this project as milestones or anchor points not reference points to see how random they are, or if the stock price evolution might be random or if the words that I type are actually almost random, considering there is no difference between the way that I write or the way that I draw something on TW.
Last 2 waves are the ones I am more interested in. A potential bull run after Earnings, maybe if it reaches the bottom plank, or a possible correction started from the marked price level above...
I have no clue if Merck will pop one way or another out of the current formation which looks highly intriguing, but something might be boiling in preparation for some resolution of the current picture (the squeezed price between the trend line and the top resistance arc zone.
This is experimental.
Comment:
Popped out eventually. Will there be a correction towards the white marked price level? Or will it continue towards the green zone? The red rectangle could become a relevant milestone.
Comment:
The Merck is back and looks ready to break the blue zone after encountering resistance here, right at the start of the red time interval. Could this be the start of a bull run or will it start consolidating below the white marked price level before deciding where it slides?
Comment:
Hit on the icon, but now quite a retest of the trendline. Still, the scenario of a potential bearish wave starting near this position can not be discarded.
Comment:
Retest of the trendline and a drop, almost touching the second icon. If the white level doesn't hold we might see another icon being hit.
Comment:
Interesting development with the support found at the blue rectangle. I might be wrong on this one but can't quite brush the bearish prospect of further decrease eventually. Nevertheless, because of the potential potency of such a rebound from the blue zone, all shorts initiated near the question mark should probably be protected with an exit strategy near or at break even in case the bulls are back in it.