As seen Merck Ltd has formed a Cup and Handle Pattern in the daily chart. A breakout with volumes will be our entry. It is bullish in the larger time frame as well. Also being at all time high, makes it stronger.
Keeping in watch list, till it breaks out.
Expected Levels- 1365- 1380.
PS-
More important than the shape of the pattern is the resistance levels which it has failed to breach previously and took a steep fall from these resistance levels. Therefore, a breakout with volumes would make buyers stronger and this level will act as a strong support in case it is broken.
Keeping in watch list, till it breaks out.
Expected Levels- 1365- 1380.
PS-
More important than the shape of the pattern is the resistance levels which it has failed to breach previously and took a steep fall from these resistance levels. Therefore, a breakout with volumes would make buyers stronger and this level will act as a strong support in case it is broken.
