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Watch for Merck & Co to Potentially Pullback After Gaining 1.99% Yesterday

By Shiri Gupta

Merck & Co (NYSE:MRK) traded in a range yesterday that spanned from a low of $84.28 to a high of $85.44. Yesterday, the shares gained 2.0%, which took the trading range above the 3-day high of $84.85 on volume of 1.6 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

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

Over the past year, Merck & Co has traded in a range of $66.10 to $87.35 and is now at $85.43, 29% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has remained constant.

Keywords: rebounders Merck & Co

Ticker(s): MRK