After being in a downtrend for almost a year things finally look like they are starting to turn around for MRK.
Recently price broke the downwards sloping resistance and has retested that level as a new support level. We have also seen strength increasing on our daily RSI bringing some life back into this stock.
Our first price target to the upside would be out LTF target around $88 followed by our 0.618 target around $111.
If we see some serious strength and price climb above our previous ATH we could even see a move towards the $172 level.
Recently price broke the downwards sloping resistance and has retested that level as a new support level. We have also seen strength increasing on our daily RSI bringing some life back into this stock.
Our first price target to the upside would be out LTF target around $88 followed by our 0.618 target around $111.
If we see some serious strength and price climb above our previous ATH we could even see a move towards the $172 level.
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