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Merck & Co Set to Possibly Pullback After Yesterday's Rally of 1.48%

By David Diaz

Merck & Co (NYSE:MRK) traded in a range yesterday that spanned from a low of $82.36 to a high of $84.54. Yesterday, the shares gained 1.5%, which took the trading range above the 3-day high of $84.25 on volume of 3.7 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Merck & Co have traded between a low of $59.80 and a high of $84.44 and are now at $84.44, which is 41% above that low price. The 200-day and 50-day moving averages have moved 0.28% higher and 0.02% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Merck & Co on May 1st, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $79.08. Since that recommendation, shares of Merck & Co have risen 5.3%. 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