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Merck & Co Rises 2.34% on Heavy Volume: Watch For Potential Pullback

By Amy Schwartz

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.

In the past 52 weeks, shares of Merck & Co have traded between a low of $52.83 and a high of $66.80 and are now at $58.57, which is 11% above that low price. The 200-day and 50-day moving averages have moved 0.15% lower and 0.64% higher over the past week, respectively.

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