- MRK is in a rising trend channel in the medium long term. - The price has risen strongly since the positive signal from the rectangle formation at the break through resistance at 95.58. - The stock has broken up through resistance at 115. - Volume tops and volume bottoms correspond badly with tops and bottoms in the price. - The short term momentum of the stock is strongly positive, with RSI above 70. - This indicates increasing optimism among investors and further price increase for MRK. However, particularly for big stocks, high RSI may be a sign that the stock is overbought and that there is a chance of a reaction downwards. - Overall assessed as technically positive for the medium long term.
*EP: Enter Price, SL: Support, TP: Take Profit, CL: Cut Loss, TF: Time Frame, RST: Resistance, RTS: Resistance to be Support LT TP: Long Term Target Price
*Chart Pattern: DT - Double Top | BEARISH | RED DB - Double Bottom | BULLISH | GREEN HNS - Head & Shoulder | BEARISH | RED REC - Rectangle | BLUE iHNS - inverse head & Shoulder | BULLISH | GREEN