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SmarTrend Watching for Potential Pullback in Shares of Merck & Co After 1.40% Gain

By Nick Russo

Merck & Co (NYSE:MRK) traded in a range yesterday that spanned from a low of $90.09 to a high of $91.24. Yesterday, the shares gained 1.4%, which took the trading range above the 3-day high of $90.11 on volume of 3.1 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Merck & Co share prices have moved between a 52-week high of $92.64 and a 52-week low of $72.05 and are now trading 27% above that low price at $91.29 per share. The 200-day and 50-day moving averages have moved 0.12% higher and 0.24% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Merck & Co on November 26th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $86.68. Since that recommendation, shares of Merck & Co have risen 3.8%. 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