MER - looks like forming a new price range above 270.00. Price "closed"today at 272.00 up by 1.49%.
What does the chart say?
Price breaks the 270.00 resistance - triggers BUY signal.
Price also breaks above the 200 Simple Moving Average - BUY signal
SMA 20 Line crosses the SMA 50 Line and on upward slope- bullish , BUY signal
Target Price /Resistance : 280,290
Support - 260,250 if the 270 support is broken
Buy near 270, sell if 270 support breaks. Let's see if we can achieve our initial targets.
Please note
that materials contained in this article are for educational purposes only, it
is not a recommendation to BUY or SELL any security. How the information would
be used would be at the discretion of the reader.
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