Merck (MRK) Approaches New Downside Target of $40.53

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Dec 28, 2012 (SmarTrend(R) News Watch via COMTEX) -- Shares of Merck (NYSE:MRK) opened today below their pivot of $41.14 and have already reached the first level of support at $40.86. Investors may be interested in a cross of the next downside pivot targets of $40.53 and $39.92.

In the past 52 weeks, shares of Merck have traded between a low of $36.91 and a high of $48.00 and are now at $40.91, which is 11% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.6%.

There is potential upside of 21.2% for shares of Merck based on a current price of $40.91 and an average consensus analyst price target of $49.56. Merck shares should first meet resistance at the 200-day moving average (MA) of $41.99 and find additional resistance at the 50-day MA of $44.51.

SmarTrend is monitoring the recent change of momentum in Merck. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Merck in search of a potential trend change.

Write to Chip Brian at cbrian@mysmartrend.com

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Copyright, Comtex News Network, Inc. 2012

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