Merck Bearish Moving Average Crossover Alert (MRK)
Merck (NYSE:MRK) crossed under its 10-day moving average of $62.18 on a volume of 1.1 million shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.
Merck share prices have moved between a 52-week high of $64.00 and a 52-week low of $45.69 and are now trading 36% above that low price at $62.05 per share. The 200-day and 50-day moving averages have moved 0.15% lower and 0.64% higher over the past week, respectively.
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 20.3%. We continue to monitor MRK for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses Merck