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After Yesterday's Rally of 1.69% Shares Could Potentially Pullback

By Shiri Gupta

Merck & Co (NYSE:MRK) traded in a range yesterday that spanned from a low of $75.78 to a high of $76.03. Yesterday, the shares gained 1.7%, which took the trading range above the 3-day high of $75.25 on volume of 6.7 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Merck & Co has traded in a range of $56.26 to $83.85 and is now at $75.96, 35% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has declined 0.2%.

SmarTrend is monitoring the recent change of momentum in Merck & Co. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Merck & Co in search of a potential trend change.

Keywords: rebounders Merck & Co

Ticker(s): MRK