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Actionable news in MRK: MERCK & CO. Inc,

Elliott Wave Analysis Merck & Co (MRK)

The advance like many INDU components is potentially showing a 5 wave move for an impulse wave. Whereas many stocks and the INDU start their respective wave [5] at the Feb 2016 lows, with this stock it counts best that wave [5] starts from the Aug 2016 lows.

Very short term it would look better if a little more weakness towards 60.00 – 58.40 to end wave 4 of [5], then we want to see new highs for wave 5 of [5]. Whilst there is a way to suggest a high could be in place for the end to wave [5], unless I see a break under 55.34 I favor a bit more upside after a small dip towards 60.00 – 58.00. Once we can count 5 waves in place from the 2009 lows, its then I am expecting a significant correction to correct the bull cycle from the 2009 highs.

Alt idea (not favored atm).

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