Hi Shoppers,

Yesterday’s candle in Merck (Ticker: MRK) is bullish engulfing meaning it completely engulfs the previous candle.

This is a bullish signal.

I am thinking if MRK opens and trades higher, I will be a buyer of next week’s 88 calls for around $1.00:

The first resistance level I am seeing comes in at the 50-day moving average at $88.99 and from there I think MRK can trade back up to $92.

Use my support line at $86.50 for your stop loss area.

Thanks for Reading … See You Next Tuesday.

Licia Leslie