Merck’s pullback

20 May 2022 138
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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.


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