How the (MRK) price action is used to our Advantage
November 30, 2024, 18:22 pm ET, BY Patrick- Contributor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for MRK
- Buy MRK near 101.57 target 113.21 stop loss @ 101.28 Details
The technical summary data tells us to buy MRK near 101.57 with an upside target of 113.21. This data also tells us to set a stop loss @ 101.28 to protect against excessive loss in case the stock begins to move against the trade. 101.57 is the first level of support below 101.64 , and by rule, any test of support is a buy signal. In this case, support 101.57 would be being tested, so a buy signal would exist.
- Short MRK slightly under 113.21, target 101.57, stop loss @ 113.54 Details
The technical summary data is suggesting a short of MRK as it gets near 113.21 with a downside target of 101.57. We should have a stop loss in place at 113.54though. 113.21 is the first level of resistance above 101.64, and by rule, any test of resistance is a short signal. In this case, if resistance 113.21 is being tested, so a short signal would exist.
Swing Trading Plans for MRK
- Buy MRK slightly over 103.5, target 113.21, Stop Loss @ 103.2 Details
If 103.5 begins to break higher, the technical summary data tells us to buy MRK just slightly over 103.5, with an upside target of 113.21. The data also tells us to set a stop loss @ 103.2 in case the stock turns against the trade. 103.5 is the first level of resistance above 101.64, and by rule, any break above resistance is a buy signal. In this case, 103.5, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
- Short MRK slightly near 103.5, target 101.57, Stop Loss @ 103.8. Details
The technical summary data is suggesting a short of MRK if it tests 103.5 with a downside target of 101.57. We should have a stop loss in place at 103.8 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 103.5, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
Day Trading Plans for MRK
- Buy MRK slightly over 101.86, target 103.5, Stop Loss @ 101.62 Details
If 101.86 begins to break higher, the technical summary data tells us to buy MRK just slightly over 101.86, with an upside target of 103.5. The data also tells us to set a stop loss @ 101.62 in case the stock turns against the trade. 101.86 is the first level of resistance above 101.64, and by rule, any break above resistance is a buy signal. In this case, 101.86, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
- Short MRK slightly near 101.86, target 101.57, Stop Loss @ 102.1. Details
The technical summary data is suggesting a short of MRK if it tests 101.86 with a downside target of 101.57. We should have a stop loss in place at 102.1 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 101.86, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
Check the time stamp on this data. Updated AI-Generated Signals for Merck & Company Inc. (MRK) available here: MRK.
MRK Ratings for November 30:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Strong |
Neutral |
Neutral |
| P1 |
0 |
0 |
101.57 |
| P2 |
101.86 |
99.91 |
113.21 |
| P3 |
103.5 |
103.5 |
125.21 |
AI Generated Signals for MRK
Blue = Current Price
Red= Resistance
Green = Support
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Our job as #investors is to pay attention to the #stocks we own. Part of that involves looking at the #fundamentals, but half of the disclosure comes from looking at price action. The Merck & Company Inc. (NYSE: MRK) data table below can help you with price action, and we have more details too. Trading plans for MRK are shown here too; these plans are updated in real time for subscribers, where this report is static. If you want an update, or a report on a different stock, please get one here Unlimited Real Time Reports.
Fundamental Charts for MRK:
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