It follows the pattern, but now the base is shifted. I expect it will stay at current level or rise a bit, before dropping after earnings towards the Dividend. If i had any money leftover, i would short it soon after earnings. Unfortunately my put options expired worthless. But that was my fault for buying at the wrong time.
Merck definitely follows this pattern, but now the dam bottom has shifted to a higher plateau...my PUTS are just under this base, i think they will expire worthless, unless some massively bad news drops the stock back to the previous base.
Just like the last few, Merck stock dropped as it approached the dividend. My only problem was it did not drop enough....my puts are the light blue lines. I guess we will see if the stock drops more enough for me to sell or if it goes up and does the pattern again.
MRK has seen strong bullish movement in the past, right now it is in recovery phases of its last bearish move
This can be compared to an earlier phase in price development (in rectangle boxes)
Once this recovery is completed strong bullish movement should ensue, pushing price above the trend line in white
50MA is in white
Just like the last 3 or 4 times, Merck stock takes a drop as it approaches or reaches the dividend date. Only problem i had was the amount it dropped. It seems each time, it drops 8-10 dollars a share.
Nice VCP with up volume clean breakout good %risk for positioning. Didn't buy as market is terrible and don't like defensive names as they are just names in which institutions are hiding. Its a bear market and I just want to keep my eye sharp on the patterns I like to buy from and be ready for when we have more favorable conditions. Let's see if it holds the stop.
Picture perfect cup with handle breakout. Market is very bad so taking 1/3rd partial profits at 1R and backstopping to breakeven. Next 1/3rd on 2R and let the last third run for a bigger.
All time high is 96.69 from 2020.
Overbought on weekly but not on the daily or monthly timeframes.
There appears to be a bullish Bat at the Bottom before the move up in blue. Price took off at the .886 and has gone a long way since then. A Bat has it's reversal zone at the .886 and the A-B leg (retracement of the impulse wave) retraces 38.2% to 50% of the...
Buy (Entry Price) within the buy zone area and exit (Stop Loss) below the red line. Can take profit at the suggested Target Price.
Entry Price: $92.81 / $93.69
Target Price: $94.02 / $94.94
Stop Loss: $91.60
VCP action. don't like the higher vol last few days though.. took pos.. sold some and now risk free, if it comes back and hits my stop im out break even. nothing gainned but free shot..
1) Formed a 19-year Cup and 2-year Handle - A bullish Continuation Pattern
2) Price shows massive tightening on the daily with relatively muted selling volume and larger buying volume spikes
3) Spectacular earnings acceleration and strong relative strength compared to the overall broad market
4) The index itself (SPY, QQQ, DIA, etc...) is short term oversold...
$MRK has a large base that goes back to Dec 2019 (zoom out) that has been showing impressive relative strength recently and could be finally ready to move and act as a leader if this market can catch a bid.
Focus watch list stock.
The PEAD projected a Bullish outlook for $MRK after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 71.43%.
Monthly chart is showing nice accumulation at the ATH.
Everything seems to favor a breakout that should last a while.
Keep an open mind...these are golden set ups and offer plenty of time to enter.
Ideal entry is breakout and back-test.
