Merck (MRK) Crosses Pivot Point Resistance at $62.11
Shares of Merck (NYSE:MRK) opened today above their pivot of $61.46 and have already reached the first level of resistance at $62.11. Should the shares continue to rise, the resistance pivots of $62.71 and $63.96 will be of interest.
Potential upside of 0.4% exists for Merck, based on a current level of $62.13 and analysts' average consensus price target of $62.39. 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.
In the past 52 weeks, Merck share prices have been bracketed by a low of $45.69 and a high of $64.86 and are now at $62.13, 36% 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 recommended that subscribers consider buying shares of Merck on March 7th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $52.34. Since that recommendation, shares of Merck have risen 17.5%. We continue to monitor MRK for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: pivot alerts Merck