$MRK (-4.98%)
@7Trader My assessment for Sunday 😉
As a trader, there is currently no clear trend for me, so I would not consider Merck for a trade at the moment.
Why "in a nutshell"?
- The current price is in a "low volume zone" (white arrow on the left), i.e. even a small volume can have a strong influence on the price - both negative and positive.
- The price is approximately in the middle of standard deviation 1 and 2 of the VWAP
- The next zone with high "volume on price" is significantly lower - up to the volume peak -11%.5 (white parallel channel)
- The current trend after SMA is negative
Taking all these points into account, I currently see more risk of prices falling further than opportunities for prices to rise.
As I said, chart analysis does not provide 100% certainty, it is more about recognizing the opportunities and risks and then entering a trade or not depending on the risk appetite 🤷♂️
PS: I have not looked at the fundamental figures at all, this is a purely technical chart analysis.
