Merck’s pullback

20 May 2022 339
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On May 17, the Merck stock price reached a new all-time high and formed an Evening star reversal pattern, after which a pullback began. The DeMarker indicator has formed a bearish divergence and is still in the overbought zone, suggesting there is space for further decline. Merck's correction to the Fibonacci 23.6 level is possible.

This content is for informational purposes only and is not intended to be investing advice.

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