Merck Back on Breakout Level !
Merck (MRK) is down 35% from its June highs and has just reached the 87.25 level, which represents the high of 2000. A retest of this major level is normal and necessary. However, we’re currently in a bit of a falling knives situation, so caution is required. Keep an eye on 87.25 and the demand zone between 71.50-77.75 for potential opportunities. Source: Bloomberg
Idexx Laboratories Rebounding Off Major Swing Support Zone?
Idexx Laboratories (IDXX US) has consolidated 32% since its last swing high in March 2024. For the past 14 weeks, the stock has been trading sideways. However, today, on earnings, it opened with a strong gap to the upside and has managed to stay above the major support level at 372.50. Keep an eye on the price action for potential further developments. Source: Bloomberg
The trend is your friend...
The Nasdaq 100 has closed above its 200-day moving average for 466 consecutive trading days, the 2nd longest uptrend in history. $NDX Source: Charlie Biello
Prosus Back on Key Level
Prosus (PRX NA) broke out of a major resistance level last September, posting a new high and reaffirming the bullish trend. The stock has consolidated 20% since the highs and is now testing the last demand zone before the breakout. Keep an eye on the price action for potential opportunities. Source: Bloomberg
Linde Price Action on Support Zone
Linde (LIN US) remains in a very bullish trend overall. The stock has seen a recent consolidation (-15%) from its all-time highs, but we’re now witnessing a strong rebound from the support level at 413. Source: Bloomberg
Siegfried Back on an Important Level
Siegfried (SFZN SW) is currently retesting the July 2024 breakout level at 943.50, which was also the 2021 top. The stock has also entered a strong demand zone between 917-991. Keep an eye on the price action over the next few days for potential opportunities. Source: Bloomberg
McDonald's Reached First Key Level
McDonald's (MCD) has consolidated 12% since its October highs. It has just reached a key level, the 50% Fibonacci retracement at 280.715, as well as the imbalance zone between 277.87-281.72. Keep an eye on the price action at this level for potential opportunities. Source: Bloomberg
TotalEnergies Strong Demand
TotalEnergies (TTE FP) has consolidated more than 27% since its April 2024 highs. We’re seeing strong demand after a rebound from the major support zone between 50.55-52.95, with imbalance bullish candles indicating significant institutional buying. Source: Bloomberg
