Bullish Moving Average Cross by Merck (MRK)
Merck (NYSE:MRK) crossed over its 10-day moving average of $56.38 on a volume of 2.0 million shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.
Over the past year, Merck has traded in a range of $45.69 to $61.70 and is now at $56.53, 24% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 0.6%.
SmarTrend recommended that subscribers consider buying shares of Merck on March 7th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $52.34. Since that recommendation, shares of Merck have risen 6.2%. We continue to monitor MRK for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses Merck