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After Yesterday's Rally of 1.40% Shares Could Potentially Pullback

By Shiri Gupta

Merck & Co (NYSE:MRK) traded in a range yesterday that spanned from a low of $90.09 to a high of $91.24. Yesterday, the shares gained 1.4%, which took the trading range above the 3-day high of $90.11 on volume of 3.1 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend recommended that subscribers consider buying shares of Merck & Co on November 26th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $86.68. Since that recommendation, shares of Merck & Co have risen 3.8%. We continue to monitor MRK for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Over the past year, Merck & Co has traded in a range of $72.05 to $92.64 and is now at $91.29, 27% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.2%.

Keywords: rebounders Merck & Co

Ticker(s): MRK