Merck Crosses Below its 10-day MA (MRK)
Today, shares of Merck (NYSE:MRK) have crossed bearishly below their 10-day moving average of $62.90 on a volume of 1.8 million shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
Over the past year, Merck has traded in a range of $45.69 to $64.00 and is now at $62.45, 37% above that low. Over the last five market days, 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 20.8%. We continue to monitor MRK for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses Merck