MRK trade ideas
Channel + Doji + Exhaustion GapEntered MRK with Feb17 60 Calls. Buy Low sell high. Playing what looks to be an exhaustion gap doji at the bottom of a channel
Trigger: 1.30
Stop: .85
Target: 2.92
R:R: 3:1
I expect a bounce or a gap up in next couple days. If it does not come I will look to exit aggressively because these setups usually work fast if identified correctly.
Merck - Could the future get any murkier for Merck?Merck & Co has been in Bearish Cycle since the major top in 2000. Since when it appear to have completed (a) and (b) of the abc zigzag. Coincidently also we have potential double top in the making. If correct then future for the investors in Merck & Co will get even more murkier and painful as potentially we could have impulsive leg c of the abc unfolding.
Not sure what the earnings number will be release tomorrow, though it is unlikely to bring any sustained pain relief.
This would particularly be the case if the wider equity market also experience anticipated weakness.
As always be sure to do your own analysis. If you like my analysis select to follow me if you haven't already and select to follow the charts for any updated and share is with your trading circle.
MRK... one more advance Multiple reasons making MRK is so attractive to buy stock or option calls. Elliott wave count show that iv wave in undergo and not yet overlapped with wave i. Other reason is the price puased at 38% fibo. Third reason the EMA 70 is hold price from falling. I am in in call option and when wave iv overlapped with wave i I will sell my position. Remember I am short-term trading. Good luck
Dogs of the DOW - One Year Entrance – MRKThe current Dogs are: CVX, CAT, VZ, PFE, CSCO, IBM, BA, MRK, INTC, XOM. Take a look at each one of those names on a DAILY CHART. Set only ONE Exponential moving average on the chart. Just one. Nothing else. A 33 Exponential Moving Average, offset by 3. As soon as you get a Daily Close of any of those stocks, above that 33 Exponential moving average, buy the stock, and hold it for the year, up to February 24th, 2017. That's it, that's the entire strategy.
Once bought, FORGET THE EMA's, as the link to the article that explains the strategy points out. CVX is waiting. CAT IS A BUY. VZ is a buy. PFE is one to wait for. CSCO, you buy. IBM is a buy. BA is one to wait for. MRK is one to wait for.
DOW JONES OVERVIEW: MRK IN MACRO UNCERTAINTY, ON MICRO RISKMerck fell into uncertainty on long term basis, but is on risk to fall on short term perspective.
On long term perspective price is now in lateral range after it failed 10-year uptrend, by falling below 1st standard deviation from 10-year mean @ 54.65 (now the range upper border). The lower border of the macro lateral range is marked by 5-year mean, standing now at 46.50 - MRK has tested and held this level during the august selloff.
On short term basis price is now trading below 1st standard deviations from 1-year and quarterly means, which are aligned with the 1st standard deviation from 10-year mean. It means that as long as price is below 54.65, there is ongoing risk of further decline and retest of the 5-year mean!
