Merck Is Seen Up
Merck (MRK) failed to break out of its downtrend after a weak earnings report missed Wall Street expectations, pushing shares down 17.8% to $81.62 over 10 days. However, the stock quickly rebounded from downtrend support and is now attempting a second breakout. MRK appears attractive, especially as Merck Director Inge Thulin recently purchased $249,999 worth of stock at $88.25. Prices have risen slightly, but from a technical standpoint, the setup for long trades looks safer. An entry point at $90.50–93.50, with targets at $105.00 and a stop-loss below $80.50, could offer a strong risk-reward opportunity. A successful breakout above resistance may confirm a trend reversal, supporting further upside momentum.
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