Merck (MRK) Closes Prior Hour Down -0.39%; Crosses 100 Day Moving Average

The Hourly View for MRK

Last Updated October 7, 2020, 02:014 GMT

At the time of this writing, MRK’s price is down $-0.8 (-0.98%) from the hour prior. This is the 3rd straight hour MRK has seen its price head down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 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

The back and forth price flow continues for Merck & Co Inc, which started today off at 79.63 US dollars, down 1.98% ($1.61) from the previous day. As for how volume fared, yesterday’s volume was up 5.81% from the previous day (Monday), and up 34.39% from Tuesday of the week before. Here is a daily price chart of Merck & Co Inc.

MRK

Merck & Co Inc Technical Analysis

Notably, Merck & Co Inc crossed below its 100 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 14 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 7 of the previous 10 trading days.

Overheard Around the Web

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

    Disintermediation disrupts pricing discipline from $ZTS : this professional equity analyst says more to come:
    https://www.twst.com/interview/pharma-ma-activity-expected-to-return-in-2021
    "…Within the animal health industry, on the companion side, there was a shift to the e-commerce channels and, to a lesser extent, retail channels, known as the alternative channels.

    If you had gone back five, 10 years ago, when you wanted to get a flea and tick drug for your dog, you would get that from your veterinarian.

    Your veterinarian would buy it from either the manufacturers or a distributor who works directly with the manufacturers. Manufacturers being companies like Zoetis (NYSE: $ZTS), which at the time would have been Pfizer $PFE Elanco (NYSE: $ELAN), which came out of Eli Lilly. Merck (NYSE: $MRK) has an animal health business.

    You’d be getting those products directly from your veterinarian. And in the post-Amazon (NASDAQ: $AMZN) world, e-commerce has obviously taken over all facets of life…"

    dfree810