DailyPlay – Merck & Co Inc (MRK) –  January 31st, 2022

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MRK Bullish Trade Idea:
Our bullish trade idea for today is Merck & Co Inc (MRK). In recent months, MRK has formed a double bottom near the $72.50 area and has rebounded with strong momentum. Price has now broken above the $78.50 resistance level and both 1M and 6M trends are now bullish. With an earnings announcement scheduled for Feb 3rd, MRK’s strong relative strength against the market and sector heading into this announcement is an encouraging sign for a continuation of its rally.  

Please note that this is an earnings play and high volatility is expected after the earnings announcement.