Merck & Co. Inc

AAA

For today's chart we've chosen to take a look at Merck & Co. (NYSE:MRK) because it is trading near an interesting level of support. As you can see from the chart below, the stock has experienced a sharp pullback since the start of the year, but many traders are keeping a close eye on the $44 level to see if it will be able to reverse the trend. Notice how the Fibonnaci retracement levels have acted as support and resistance in the past. We believe that these levels will continue to influence the price and it will be interesting to see if bullish traders use the 50% retracement level as a reason to enter the stock. A close below the nearby retracement level will signal increased selling pressure and in this case many would choose to set their targets at $39.






You May Also Like

Related Analysis
  1. Stock Analysis

    Playing the Rising Robotics with the ROBO ETF

  2. Chart Advisor

    ChartAdvisor for January 30 2015

  3. Chart Advisor

    Use These Two ETFs To Profit From A Reversal In Gold

  4. Chart Advisor

    Trade Strong U.S. Small Caps with this ETF

  5. Stock Analysis

    Faceboook (FB) Revenue Surges on Mobile Ads - Stocks in the News

Trading Center