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Merck & Co Rises 1.21% on Heavy Volume: Watch For Potential Pullback

By Nick Russo

Merck & Co (NYSE:MRK) traded in a range yesterday that spanned from a low of $62.14 to a high of $62.84. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $62.69 on volume of 3.2 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Merck & Co have traded between a low of $52.83 and a high of $66.41 and are now at $62.76, which is 19% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.3% while the 200-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of Merck & Co on April 16th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $58.21. Since that recommendation, shares of Merck & Co have risen 6.3%. We continue to monitor MRK for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders Merck & Co

Ticker(s): MRK