Published too hastily and can't edit - bull flag target should say 43. Recent activity is forming a broadening pattern (bearish). Bottom line is still that it need to break into the 50s.
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.
MRK is forming a bullish schedule on its daily chart.It's currently at support. If Support holds, MRK should breakout out of the flag, and go higher. Time will tell
I missed the cup with handle breakout here even though it was on my watchlist. However, I feel this area would be a good place to pick up some MRK. Planning on this one to be a long-term hold for the demographics play. Standard 8% stop loss.
