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SmarTrend Watching for Potential Pullback in Shares of Merck After 1.22% Gain

By Shiri Gupta

Merck (NYSE:MRK) traded in a range yesterday that spanned from a low of $63.02 to a high of $63.81. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $63.71 on volume of 3.3 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Merck share prices have moved between a 52-week high of $66.80 and a 52-week low of $45.69 and are now trading 39% above that low price at $63.72 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has slid 0.2%.

SmarTrend is tracking the current trend status for Merck and will alert subscribers who have MRK in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders Merck

Ticker(s): MRK