Merck (MRK) Closes Last Hour Down $-0.16; Pin Bar Pattern Appearing on Chart, in a Downtrend Over Past 14 Days

The Hourly View for MRK

Last Updated October 8, 2020, 01:015 GMT

Currently, MRK’s price is up $0.11 (0.14%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. Regarding the trend, note that the strongest trend 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

The choppiness in the recent daily price action of Merck & Co Inc continues; to start today, it came in at a price of 80.04 US dollars, up 0.51% ($0.41) since the previous day. The price move occurred on volume that was down 4.58% from the day prior, but up 60.12% from the same day the week before. Below is a daily price chart of Merck & Co Inc.


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. 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 18 of the previous 30 trading days. As for those who trade off of candlesticks, we should note that we’re seeing pin bar pattern appearing here.

Overheard Around the Web

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

    $BCRX $MRK $GILD $LLY $REGN It’s hard not to get impatient with the price action, but the ongoing hiring at BCRX is bullish af. CEO “we are transitioning into a commercial stage company”. “This is a transformational year. Also, compare the studies on Galidesivir to remdesivir . Galidesivir outperformed in many animal studies against pandemic illness with better safety profile suggesting that it might be the long term stockpile choice to defend against future pandemics.