Near record highs, the buy signal loses pace
Merck stock slips 0.7% near record highs as the buy signal loses steam
Near record highs, the buy signal loses pace
Our view last week
Merck stock stays glued to its all-time highs, just 2.7% below the 134.63 area - a level already tested 4 times over the past 10 weeks. The week closed up 2.8% and the weekly structure stays bullish, but the pace is losing some edge: the weekly ADX is slowing and last week's candle shows a weaker body than usual. In our technical analysis the buy signal runs into its ninth week, with the trade's gain climbing to 7.07%.
This week's summary
Merck stock stays glued to its all-time highs, just below the 133 area — a level already tested once over the past ten weeks without being turned away yet. The stock gave back 0.7% this week, the weekly ADX is slowing and daily money flow has turned negative, a sign that buying pressure is thinning. In our technical analysis the buy signal runs into its tenth week, up 6.36%, with quarterly earnings on the calendar this very week.
IQS Phase
74
in tension
Signal Strength
38
medium · weak
Sizing
REDUCED
Ranking
#99 / 120
US stocks in progress
Trade P&L %
+6.36%
from signal to date, no stop loss
Rank position
ranks 99th among the 120 Longs already running for US stocks in our ranking, with a signal strength of 38 out of 100.
Sector context
SectorHealth Care
Benchmark ETFXLV
Sector regimein positive regime
Performanceweekly -0.01% · monthly +1.89%
MRK belongs to the health care sector (reference ETF XLV). The sector is classified in positive regime according to our weekly reading.
restricted Platinum content