$MRK bear trend will break after (at least) one more swing high.
Most of the research is on the page but I'll explain it briefly.
The past two clear trends have shown four swing highs before a break (up/down is irrelevant) - the current bearish trend has only seen three swing highs so far.
The RSI of the market is low, which usually foreshadows a bullish movement, if you want to argue that the swing high at $84.70 also counts as a swing high in our current bearish trend, then we are just about due for a bullish sprint.
I personally don't think we've seen enough swing lows (see previous bear trend) for a momentum break, especially considering that the current trend has the change in CEO & financial report as a catalyst whereas the previous one simply had the financial statement creating momentum.
The past two clear trends have shown four swing highs before a break (up/down is irrelevant) - the current bearish trend has only seen three swing highs so far.
The RSI of the market is low, which usually foreshadows a bullish movement, if you want to argue that the swing high at $84.70 also counts as a swing high in our current bearish trend, then we are just about due for a bullish sprint.
I personally don't think we've seen enough swing lows (see previous bear trend) for a momentum break, especially considering that the current trend has the change in CEO & financial report as a catalyst whereas the previous one simply had the financial statement creating momentum.