Nov. 13 at 12:56 AM
$MRK trade plan:
Market Context: The last close at
$90.57 is near the 60D high of
$91.00, indicating a potential resistance level. The RSI of 59.97 suggests that the stock is approaching overbought territory but is not yet overextended, allowing for further upside potential.
Directional Bias: The stock shows a bullish trend, supported by the MA30 (86.62) and MA50 (84.74) being below the current price, indicating upward momentum. The price is above both moving averages, reinforcing a positive outlook.
Suggested Entry: Consider entering a long position above
$90.75 to confirm upward momentum.
Stop: Place a stop-loss at
$88.40, just below the recent support level.
Targets: First target at
$91.50, slightly above the 60D high, and a second target at
$93.00, allowing for further gains if momentum continues.
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