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DanH
I know my eyesight is bad, but I don't see anything close to a c&h on
MRK.
If I look at the weeklies, I have consolidation at current levels, with
the 13/39 mas providing support around 85 and 75; I wouldn't trust the
85 level, since in the past the 13 period ma has not proven strong, but
the 39 period ma has.
On the dailies, we also have consolidation in a range of 87-93, with one
false breakout. However, the year chart shows several false breakouts,
primarily to the short side earlier in the year. The second strong short
break then reversed and turned into a sustained move up to the current
levels.
Frankly, I wouldn't trade MRK, it is too deceptive.
Regards
DanG
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