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SmarTrend Watching for Potential Rebound in Shares of Merck & Co After 2.30% Loss

By Shiri Gupta

Merck & Co (NYSE:MRK) traded in a range yesterday that spanned from a low of $76.38 to a high of $77.56. Yesterday, the shares fell 2.3%, which took the trading range below the 3-day low of $77.72 on volume of 3.5 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, Merck & Co share prices have been bracketed by a low of $52.83 and a high of $80.19 and are now at $76.41, 45% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 0.7%.

SmarTrend recommended that subscribers consider buying shares of Merck & Co on October 31st, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $73.63. Since that recommendation, shares of Merck & Co have risen 6.2%. 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