MerckPharma giant Merck (MRK - Get Report) is showing a particularly auspicious technical setup right now -- an inverse head-and-shoulders pattern. The head-and-shoulders pattern is probably one of the most well-known technical formations out there today, but just because it's popular doesn't mean it's not effective. A recent academic study on the head-and-shoulders show that the formation can be both statistically and economically significant for traders.
5 Technical Setups to Buy for August Breakouts
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts