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Watch for Shares of Merck & Co (MRK) to Approach Support at $81.90

By Shiri Gupta

Shares of Merck & Co (NYSE:MRK) opened today below their pivot of $82.29 and have already reached the first level of support at $82.12. Should the shares continue to fall, the support pivots of $81.90 and $81.51 will be of interest.

Merck & Co (NYSE:MRK) defies analysts with a current price ($82.35) 15.8% above its average consensus price target of $69.33. The stock should run into initial resistance at its 200-day moving average (MA) of $84.71 and subsequent resistance at its 50-day MA of $88.25.

In the past 52 weeks, Merck & Co share prices have been bracketed by a low of $72.23 and a high of $92.64 and are now at $82.35, 14% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.4%.

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.

Keywords: pivot alerts Merck & Co

Ticker(s): MRK