BY LICIA LESLIE
May 29, 2024
Hi Shoppers,
Merck (TIcker: MRK) has broken below key support with a very large red candle:
Looks to me the next stop will be $122.
Shopping for options, I like the Jun21 expiration:
The 126/121 put vertical looks fairly priced.
Use a close above $127.50 as your stop loss.
Trade Review
SPDR Biotech ETF (Ticker: XBI) has not traded lower, yet.
I still believe it is heading to $82.79.
Ford (TIcker: F) has violated the support and closed below, heading to $11.
Thanks for Reading … See You Next Tuesday,
Licia Leslie
Licia Leslie
Head of Technical Analysis
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