Merck shares has far outperformed the US market this year. While the S&P 500 is 14% below its January high, the Merck is only 4% from its June 27 high.
Buyers still do not give up hope to return the price back to the strong resistance of 95. However, it will be more and more difficult to continue the rise: “hanging man” and “shooting star” reversal patterns have already formed, as well as a sell signal from Stochastic. The quotes can find the first support at the level of 90.
This content is for informational purposes only and is not intended to be investing advice.
