BY LICIA LESLIE
January 24, 2024
Hi Shoppers,
Merck & Co. (Ticker: MRK) has been hammering at the resistance provided by the high of
May 3, 2023.
It has been consolidating and attempting to bust through it since January 9th:
I think MRK is going to break through this resistance and have a nice rally trading up to $123 by Friday.
Looking at Friday’s calls:
I think money can be made on the 120 calls for around $.70.
Watch the five minute chart for that breakout and hop into those calls.
Trade Review
SPDR S&P 500 ETF (TIcker: SPY) has traded higher and those 483 calls are up 45%. I think we will trade higher today, too.
Thanks for Reading … See You Next Tuesday,
Licia Leslie
Licia Leslie
Head of Technical Analysis
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