Merck (MRK) Closes Last Hour Up $0.39; 2 Day Down Streak Snapped, is Inching Close to 200 Day Average, Pin Bar and Morning Star Patterns Appearing on Chart

The Hourly View for MRK

Last Updated October 6, 2020, 01:08 GMT

At the moment, MRK’s price is up $0.02 (0.02%) from the hour prior. The hourly chart shows that MRK has seen 2 straight up hours. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50 and 100 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Merck & Co Inc Daily Price Recap

The back and forth price flow continues for Merck & Co Inc, which started today off at 81.24 US dollars, up 0.54% ($0.44) from yesterday. The price move occurred on stronger volume; specifically, yesterday’s volume was up 67.21% from the day prior, and up 13.42% from the same day the week before. Here is a daily price chart of Merck & Co Inc.

MRK

Merck & Co Inc Technical Analysis

Notably, the current price of Merck & Co Inc is sitting close to its 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 7 out of the past 10 days. As for those who trade off of candlesticks, we should note that we’re seeing pin bar and morning star patterns appearing here.

Overheard Around the Web

Here’s what one trader on StockTwits recently had to say in regards to MRK:

    $BMY To Acquire MyoKardia $MYOK for $13.1 Billion in Cash.
    * Bristol Myers CEO says that they will continue to look for similar agreement with other companies:
    Now more than ever, $AGEN #Agenus_Bio outcomes in Balstilimab Monotherapy and Balstilimab plus Zalifrelimab Trials at #ESMO20 might be a great deal for Bristol Myers to shield itself from fierce competition for its cancer immunotherapy, Opdivo, from Merck & Co's $MRK Keytruda.
    https://investors.bms.com/iframes/press-releases/press-release-details/2020/Bristol-Myers-Squibb-to-Acquire-MyoKardia-for-13.1-Billion-in-Cash/default.aspx

    kanandabarrons