Sol, can you give an update on MRK?
Looks like on the Monthly it is just starting to move out of oversold and starting to trend up. Looks like if it breaks 90 it can easily to 100+?
On the weekly it also seems like it will break out of a stall between 70-90 and easily break its last high of 92.64, but the buying spree in the last 2 months might make it stall at 90 and trend towards 70 again?
I am interested because this looks like something that I might consider selling a put if it comes back down again on the weekly, but I like this stock for long term especially since we got it in Jun 2021 and it will most likely pay off very well for us.
thanks.
MRK
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Budge
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Re: MRK
Next resistance $96 on quarterly chart.jlhooter wrote: ↑Sun Apr 10, 2022 4:04 pm Sol, can you give an update on MRK?
Looks like on the Monthly it is just starting to move out of oversold and starting to trend up. Looks like if it breaks 90 it can easily to 100+?
On the weekly it also seems like it will break out of a stall between 70-90 and easily break its last high of 92.64, but the buying spree in the last 2 months might make it stall at 90 and trend towards 70 again?
I am interested because this looks like something that I might consider selling a put if it comes back down again on the weekly, but I like this stock for long term especially since we got it in Jun 2021 and it will most likely pay off very well for us.
thanks.
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SOL
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Re: MRK
The monthly chart of MRKjlhooter wrote: ↑Sun Apr 10, 2022 4:04 pm Sol, can you give an update on MRK?
Looks like on the Monthly it is just starting to move out of oversold and starting to trend up. Looks like if it breaks 90 it can easily to 100+?
On the weekly it also seems like it will break out of a stall between 70-90 and easily break its last high of 92.64, but the buying spree in the last 2 months might make it stall at 90 and trend towards 70 again?
I am interested because this looks like something that I might consider selling a put if it comes back down again on the weekly, but I like this stock for long term especially since we got it in Jun 2021 and it will most likely pay off very well for us.
thanks.
It is still trading in the oversold ranges so that's a positive. A monthly close at or above 93, should pave the way for a test to the 105 to 110 ranges. Until then expect somewhat volatile action
When the words short term appear under any post; the same conditions listed in the Market update under the short term category apply
The end is always near; its the beginning and how you live each moment that counts the most
The end is always near; its the beginning and how you live each moment that counts the most