Merck and Company
Short Term
We look to Sell at 93.34 (stop at 96.33)
We look to sell rallies. Price action looks to be forming a top. Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible. There is scope for mild buying at the open but gains should be limited.
Our profit targets will be 86.55 and 83.96...
Rising Wedge and Ascending H&S, leading to a break down over a weak uptrend line
down to the .618 Fibonacci line
Rising wedges and H&S patterns are both considered bearish
Attaching my thoughts about the ascending H&S
This is only a trading capability - no recommendation !!!
Buying/Selling or even only watching is always your own responsibility ...
.zip (with PDF`s) @ my Google Drive
Break Downs (Dow Jones Index incl. all shares)
drive.google.com
Best regards :)
Aaron
