Merck’s Hot Streak: Up 4 of the Past 5 Days

The Daily View for Merck

  • At the time of this writing, MRK’s price is down $-0.26 (-0.33%) from the day prior.
  • This is the 2nd day in a row Merck has seen its price head down.
  • From a daily perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 day timeframes.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on Merck. Given that we see downtrend on the 20 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Merck’s hourly price chart is shown below.

MRK

The Daily View for Merck

  • At the moment, MRK’s price is up $0.01 (0.01%) from the day prior.
  • It’s been a feast for bulls operating on the daily timeframe, as Merck has now gone up 4 of the past 5 days.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 50 day timeframe.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on Merck. Given that we see an uptrend on the 10 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • Of note is that the 200 day changed directions on MRK; it is now pointing up. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Below is a daily price chart of Merck.

MRK