MRK and LLY Follow Our Technical Scripts
by Mike Paulenoff
June 26, 2026 • 10:58 AM EDT
Pharma Update: MRK and LLY
On Wednesday (6/24/26), this is what we discussed about MRK:
MRK as well, which we see on my attached Daily Chart exhbits a VERY BULLISH technical setup-- quite the opposite of beleaguered PFE. My pattern work argues that all of the price action from the 2/25/26 high at 125.14 represents a high-level bullish digestion period and pattern atop the major upleg from the May 2025 low at 73.31. The conclusion of the bullish digestion period could be within a matter of days, or extend into early July, but from my perspective, as long as any forthcoming weakness is contained above 115.50, MRK points considerably higher, to a 138-142 target zone... last is 121.10...
Fast-forward to this AM, we see MRK has followed my bullish scenario, spiking higher to 128.78-- a near 2-year new high, as the price structure thrust above its dominant 2024-2026 resistance line (123.50) and prior bull phase rally peak (125.14). My pattern setup work argues for upside continuation that challenges and hurdles the June 2024 ATH at 134.63, en route to 138-140... Last is 127.89... (continued below my MRK chart)...
LLY has rocketed as well. This is what we discussed yesterday afternoon:
... The bottom line technically is the following: As long as any forthcoming weakness is contained above Tues (6/23) low at 1079.22 on a closing basis, LLY points higher, to new ATHs that project next into the 1260-1300 target zone... last is 1129.10...
Fast-forward to this AM, we see LLY has rocketed to a new ATH at 1200.50, and technically, is in the grasp of a powerful new upleg off of the 6/23/26 pivot low at 1079.22 that projects to 1260-1300 next... Last is 1196.24...
Mike Paulenoff is the author of MPTrader.com, a real-time diary of his technical analysis & trade alerts
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