Merck has been dropping for almost a year, and one big option trader may expect further downside.
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Chart of the Day: Merck Could Be Sickly
Merck has struggled for most of the year, and now some traders may look for another push to the downside. The first pattern on today’s chart is the series of higher lows from mid-November through early last week. MRK has dropped below that line, which may be viewed as...
Options Focus: ‘Golden Cross’ in J&J as Earnings Approach
Johnson & Johnson doesn't move quickly, but options traders may see ways to make it interesting. The pharmaceutical company has formed some potentially bullish patterns since July 17, when it rallied on strong quarterly results. First, the stock advanced from...
Stocks Pause Near Record Highs Before Inflation, Earnings
Stocks are pulling back as traders wait for key inflation data and the start of earnings season. The S&P 500 fell 1.5 percent in the holiday-shortened period between Friday, December 29, and Friday, January 5. It was the first drop in 10 weeks, ending the index's...
Technical Analysis: Merck Could Be Breaking Out
Merck surged in late 2022 and consolidated during the first quarter. Now the drug maker could be breaking out. The first pattern on today’s chart is the rally between mid-October and early January, which included a breakout to new record highs. MRK then pulled back...
Technical Analysis: Potential Uptrend in DexCom
Diabetes company DexCom has been fighting higher since June, and now it may be interesting to trend followers. The first pattern on today’s chart is the pair of bullish gaps last month. The initial rally came after the Centers for Medicare and Medicaid Services...
Health Care Leads New Highs as the Stock Market Recovers
Something new happened in the stock market yesterday following a month of steady gains: some names are breaking out. Twenty three members of the S&P 500 made new 52-week highs on Monday. That was the most since April 21, according to TradeStation data. Six of...
Stocks Keep Advancing as Economic, Inflation Hopes Draw Investors Back to the Market
Stocks advanced again last week as inflation-wary investors keep inching back into the market. The S&P 500 rose 0.36 percent between Friday, July 29, and Friday, August 5. It was the third straight weekly advance, returning the index to its highest level in two...
Chart of the Day: This Drug Developer Rallied and Now It’s Pulled Back
United Therapeutics spent more than a year consolidating around its 2015 highs. Now the biotech may be attempting a breakout. Notice the surge to new all-time highs late last month. The rally followed news that the Food & Drug Administration approved its Tyvaso...