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Dec 28, 2012 (SmarTrend(R) News Watch via COMTEX) -- Merck (NYSE:MRK) traded in a range yesterday that spanned from a low of $40.63 to a high of $41.17. Yesterday, the shares fell 1.4%, which took the trading range below the 3-day low of $40.80 on volume of 11.3 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean revision.
Over the past year, Merck has traded in a range of $36.91 to $48.00 and is now at $40.65, 10% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.6%.
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.
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Copyright, Comtex News Network, Inc. 2012
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