The Greedy Trader Weekly Analysis
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- 3/15/2024 -
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Merck & Co. (MRK) Technical Analysis

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Summary:
Weekly :Stochastic signal line moved below overbought areaBroken trend resistance line
Daily :Relative Strength Index and Lane's Stochastic oversoldWilliams' Percentage Range is strongly oversoldPrice has crossed below the 50 Day Moving Average
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It was the negative week for the Merck & Co. (MRK). During the week, the MRK dropped -1.98 points, or -1.60%, and closed at 121.52 on Friday, March 15, 2024. Weekly volume was 40% above average.

Long-term trend: [See MRK long-term trend chart]
A long-term uptrend had started on March 9, 2009 at 20.05 and reached 130.24 on February 23, 2024. MRK gained -110.19 points, or -549.58%, in 780 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (82.97) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.

Medium-term trend: [See MRK medium-term trend chart]
A medium-term uptrend had started on October 19, 2023 at 99.14 and reached 130.24 on February 23, 2024. MRK gained -31.10 points, or -31.37%, in 18 weeks. The price is now at the 28.04% retracement level.

Weekly Technical Indicators: [See MRK weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.

The weekly MACD line is above its signal line since December 8, 2023. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See MRK short-term trend chart]
A short-term downtrend had started on February 23, 2024 at 130.24 and reached 119.23 on March 15, 2024. MRK lost 11.01 points, or 8.45%, in 21 days. The price is now at the 20.80% retracement level.

Daily Technical Indicators: [See MRK daily technical indicators chart]
Daily Relative Strength Index and Lane's Stochastic are oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Relative Strength Index and Lane's Stochastic or strongly oversold daily Williams' Percentage Range. Use the following links to access Relative Strength Index and Williams' Percentage Range help.

The daily MACD line is below its signal line since February 9, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current short-term downtrend is still strong, and momentum is beginning to wane.

During the last week, the price has crossed below the 50 Day Moving Average. While the medium-term trend is up and daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 19.60
Oversold
Williams' Percentage Range (W%R) 94.50
Strong Oversold
Lane's Stochastic (%D-Slow) 19.99
Oversold
Greed/Fear Indicator (GFI) 15.04
Oversold
Moving Average Converg./Diverg. (MACD) 0.32
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 74.99
Williams' Percentage Range (W%R) 34.20
Lane's Stochastic (%D-Slow) 76.29
Greed/Fear Indicator (GFI) 69.25
Moving Average Converg./Diverg. (MACD) 3.77
Trading Signals
Description Value Chart
Upper Bollinger Band 129.73
Weekly Stochastic Crossing 126.70
20 Day Moving Average 125.50
50 Day Moving Average 123.22
Parabolic System 122.78
Price 121.52
Daily Stochastic Crossing 120.44
Lower Bollinger Band 118.17
Yearly Trendline Resistance 105.13
Sector and Industry
Description Name Rank
Sector Health Care 6
Industry Pharmaceuticals 47
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 130.24
High Date 02/23/2024
Low 119.23
Low Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 130.24
High Date 02/23/2024
Low 119.23
Low Date 03/15/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 99.14
Low Date 10/19/2023
High 130.24
High Date 02/23/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 65.25
Low Date 03/23/2020
High 130.24
High Date 02/23/2024
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 105.13
Support 82.97
Low 20.05
Low Date 03/09/2009
High 130.24
High Date 02/23/2024
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.