MRK’s Price May Be in A Downtrend, but RSI Suggests Caution

The Hourly View for Merck

  • At the time of this writing, MRK’s price is down $-0.12 (-0.17%) from the hour prior.
  • Merck has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls.
  • As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe.
  • Price action traders may also wish to note that we see a doji candlestick pattern on Merck. Given that we see an uptrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • The moving averages on the hourly 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 $1.17 (1.59%) from the day prior.
  • Merck has seen its price go up 5 out of the past 5 days, thus creating some compelling opportunities for bulls.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 100 day timeframe.
  • Regarding moving averages, it should first be noted that price has crossed the 20 day moving average, resulting in them with price now being above it. The moving averages on the daily timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
  • Divergence alert: Trend in MRK’s price and its RSI are diverging. MRK’s price is declining slower than its RSI.

Below is a daily price chart of Merck.

MRK

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