The Tide May Be Shifting for Merck as it Crosses Above Its 200 Day Moving Average

The Hourly View for Merck

  • Currently, MRK’s price is down $-0.01 (-0.01%) from the hour prior.
  • It’s been a feast for bears operating on an hourly timeframe, as Merck has now gone down 4 of the past 5 hours.
  • If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe.
  • 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 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 bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Merck’s hourly price chart is shown below.

MRK

The Daily View for Merck

  • Currently, MRK’s price is down $-0.81 (-1.03%) 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.
  • As for the trend on the daily timeframe, we see the clearest trend on the 20 day timeframe.
  • Most noteworthy in the world of moving averages on the daily chart is that the 200 day moving average has been crossed, with price now being below it. 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

Latest News Discussing MRK

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    July 6, 2021

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