Merck & Co Inc (MRK) 2 Day Down Streak Snapped, in a Downtrend Over Past 30 Days; Pin Bar Pattern Appearing on Chart

The Hourly View for MRK

Last Updated March 3, 2021, 12:44 GMT

Currently, MRK’s price is up $0.69 (0.95%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. 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 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 72.85 US dollars, up 0.65% ($0.47) since the day prior. As for how volume fared, yesterday’s volume was up 27.29% from the previous day (Monday), and up 29.45% from Tuesday of the week before. The daily price chart of Merck & Co Inc below illustrates.

MRK

Merck & Co Inc Technical Analysis

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 additional context, note that price has gone down 8 out of the past 14 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

Overheard Around the Web

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

    $MRK Seems amazing that a company that just signed a contract with the US government to aid produce, manage and organise the vaccine delivery doesn't gain volume? Did I miss something?

    Francis_Elliot_III