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Merck & Co (MRK) Crosses Pivot Point Resistance at $62.45

By David Diaz

Merck & Co (NYSE:MRK) has opened bullishly above the pivot of $62.31 today and has reached the first level of resistance at $62.45. Analysts will be watching for a cross of the next upside pivot targets of $62.72 and $63.13.

Merck & Co share prices have moved between a 52-week high of $66.80 and a 52-week low of $55.10 and are now trading 14% above that low price at $62.69 per share. 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%.

There is potential upside of 11.5% for shares of Merck & Co based on a current price of $62.69 and an average consensus analyst price target of $69.88. The stock should discover initial support at its 50-day moving average (MA) of $53.97 and subsequent support at its 200-day MA of $53.26.

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: pivot alerts Merck & Co

Ticker(s): MRK