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After Yesterday's Rally of 2.34% Shares Could Potentially Pullback

By Shiri Gupta

Merck & Co (NYSE:MRK) traded in a range yesterday that spanned from a low of $57.17 to a high of $59.25. Yesterday, the shares gained 2.3%, which took the trading range above the 3-day high of $57.33 on volume of 14.1 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Merck & Co share prices have moved between a 52-week high of $66.80 and a 52-week low of $52.83 and are now trading 11% above that low price at $58.57 per share. 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 is tracking the current trend status for Merck & Co and will alert subscribers who have MRK in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders Merck & Co

Ticker(s): MRK