BY LICIA LESLIE 

August 20, 2023 

Hi Shoppers,

I think it is quite possible Merck (Ticker: MRK) could be consolidating or bull flagging here:

A bull (bear) flag occurs when a stock is in a trend and it pauses for some time to consolidate gearing up for its next leg into the continued trend.

It isn’t a huge uptrend here, but MRK has rallied and the 50 day and 200 day moving averages are causing a resistance point here.

I am thinking MRK is gearing up to shoot right through that resistance.

I will wait for the confirmation of a close above $109.50 before hopping into some calls.

Once it closes up there, I think MRK can trade up to $115.

Trade Review

Along with the rest of the market, Apple (Ticker: AAPL) traded lower before rallying and closing higher.

I still think that $177 will be resistance.

Thanks for Reading … See You Next Tuesday,

Licia Leslie