By Nigam Arora & Dr. Natasha Arora
Merck (MRK) has announced that its oral antiviral pill molnupiravir reduces the death risk from COVID by 50%. 7.3% of those who received the pill were either hospitalized or died through Day 29 compared with 14.1% of those who received the placebo. The data was so positive that the study was stopped early.
Merck plans to seek Emergency Use Authorization.
The first resistance zone for MRK is $81.75 to $84. The second resistance zone is $86.47 to $88.41. The resistance is likely to slow the move up in a normal market. However, if the momo crowd gets hold of this stock, they can quickly move it above $100.
MRK is a very large company. Although this drug will be meaningful, do not expect the stock to double or triple as small biotech stocks do on good news. The probability is very high of something similar to Pfizer – PFE has had tremendous success with a vaccine against COVID but the stock has been slow to move.
MRK has a nice dividend of 3.46%.
For those who are following the Good Way, and are super aggressive, the Buy Now rating is🔒 (To see the locked content, please take a 30 day free trial).
For those following the Best Way, the buy zone is 🔒. MRK is trading at $80.94 as of this writing in the premarket.
To learn about the Good Way and the Best Way, please study your Getting A Running Start Guide.
The mental stop zone is $68.13 – $69.43.
Long term target zone is $115 – $125.
The maximum recommended quantity is 25% of full core position size.
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This post was just published on ZYX Buy Change Alert.
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