Preconditions for Merck's reversal

15 june 2022 49
Volkov_Anton
Volkov_Anton

Listed among the best MarketCheese authors
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A number of factors predict an imminent upward reversal in Merck stock:


1)     The price has fallen to the important 83.5-84.5 range. This is where the growth wave started in the end of April and the beginning of May, and last year these levels acted as strong resistance.

2)     The "doji star" pattern has appeared on the graph 2 times in a row, which is a sign of a current trend change.

3)     RSI has gone deep into the oversold area and is trying to reverse upwards.


The first growth target is the 86.5 level.

Volkov_Anton
Volkov_Anton

Listed among the best MarketCheese authors
1st in the segment "Currencies"
2nd in the segments "Indices" and "Metals"
3rd in the segment "US stocks"
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