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Watch for Shares of Merck & Co (MRK) to Approach Support at $69.09

By Amy Schwartz

Merck & Co (NYSE:MRK) has opened bearishly below the pivot of $70.45 today and has reached the first level of support at $69.96. Investors may be interested in a cross of the next downside pivot targets of $69.09 and $67.73.

Based on a current price of $70.09, Merck & Co is currently 1.1% above its average consensus analyst price target of $69.33. The stock should find initial support at its 50-day moving average (MA) of $66.18 and further support at its 200-day MA of $59.77.

Merck & Co share prices have moved between a 52-week high of $70.94 and a 52-week low of $52.83 and are now trading 33% above that low price at $70.09 per share. The 200-day and 50-day moving averages have moved 0.52% higher and 1.14% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Merck & Co on April 16th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $58.21. Since that recommendation, shares of Merck & Co have risen 21.7%. We continue to monitor MRK for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: pivot alerts Merck & Co

Ticker(s): MRK