MRK - Rising Trend Channel [MID TERM]

- MRK is in a rising trend channel in the medium long term.
- The price has risen strongly since the positive signal from the rectangle formation at the break through resistance at 95.58.
- The stock has broken up through resistance at 115.
- Volume tops and volume bottoms correspond badly with tops and bottoms in the price.
- The short term momentum of the stock is strongly positive, with RSI above 70.
- This indicates increasing optimism among investors and further price increase for MRK. However, particularly for big stocks, high RSI may be a sign that the stock is overbought and that there is a chance of a reaction downwards.
- Overall assessed as technically positive for the medium long term.

*EP: Enter Price, SL: Support, TP: Take Profit, CL: Cut Loss, TF: Time Frame, RST: Resistance, RTS: Resistance to be Support LT TP: Long Term Target Price

*Chart Pattern:
DT - Double Top | BEARISH | RED
DB - Double Bottom | BULLISH | GREEN
HNS - Head & Shoulder | BEARISH | RED
REC - Rectangle | BLUE
iHNS - inverse head & Shoulder | BULLISH | GREEN

Verify it first and believe later.

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