Merck & Co Inc (MRK) Up 0.62%; in a Downtrend Over Past 14 Days

The Hourly View for MRK

Last Updated March 4, 2021, 12:43 GMT

At the time of this writing, MRK’s price is up $0.05 (0.06%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Merck & Co Inc Daily Price Recap

Merck & Co Inc is up 0.62% ($0.45) since yesterday, marking the 2nd consecutive day it has gone up. The change in price came along side change in volume that was down 13.06% from previous day, but up 61.87% from the Wednesday of last week. The daily price chart of Merck & Co Inc below illustrates.


Merck & Co Inc Technical Analysis

The first thing we should note is that Merck & Co Inc is now close to its 20 day moving averages, which may act as price barrier for the asset. Volatility for Merck & Co Inc has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. For another vantage point, consider that Merck & Co Inc’s price has gone down 18 of the previous 30 trading days.

Overheard Around the Web

Over on StockTwits, here’s an example of what they’re saying about MRK:

    $MRK $PFE most of the high flying garbage has capitulated and I wouldn't be surprised to see more rotation into high quality profitable companies trading at low multiples