Merck Stock Forecast
Stronger technical forecast for Merck stock price after Wednesday trading.
(Updated on Apr 17, 2024)
The Merck stock price gained 0.248% on the last trading day (Wednesday, 17th Apr 2024), rising from $125.06 to $125.37. During the last trading day the stock fluctuated 1.19% from a day low at $124.71 to a day high of $126.19. The price has been going up and down for this period, and there has been a -3.49% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 577 thousand more shares were traded than the day before. In total, 6 million shares were bought and sold for approximately $702.21 million.
The stock lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 3.78% during the next 3 months and, with a 90% probability hold a price between $126.93 and $137.99 at the end of this 3-month period.
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MRK Signals & Forecast
The Merck stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $126.00 and $125.57. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -4.99%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Some positive signals were issued as well, and these may have some influence on the near short-term development. Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Merck stock
Merck finds support from accumulated volume at $124.05 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $1.48 (1.19%) between high and low. For the last week, the stock has had daily average volatility of 1.41%.
Merck is oversold on RSI14 (16). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: $118.63 (-5.38%) (This stock has low daily movements and this gives low risk. Low RSI14 is 16 which reduces the risk some. There is a sell signal from a pivot top found 13 days ago.)
Trading Expectations (MRK) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Merck & Company Inc to open at $125.42, and during the day (based on 14 day Average True Range), to move between $123.31 and $127.43, which gives a possible trading interval of +/-$2.06 (+/-1.65%) up or down from last closing price. If Merck & Company Inc takes out the full calculated possible swing range there will be an estimated 3.29% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $126.38 (0.81%) than the support at $124.05 (1.05%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
Merck will release earnings BMO on Thursday, April 25, 2024.The consensus among the analysts for the expected earnings (EPS) is $2.01. We will update the financials statements for Merck, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.53% in the first trading day after earnings release.
Is Merck & Company Inc stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.511 Buy Candidate Upgraded
Predicted Opening Price for Merck & Company Inc of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| $125.42 ( 0.0425%) | $125.37 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MRK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 126.90 | 1.22 % | |
| R2 | 126.34 | 0.772 % | ||
| R1 | 125.99 | 0.493 % | ||
| Current price: | 125.37 | |||
| Support | S1 | 124.86 | -0.408 % | |
| S2 | 124.51 | -0.687 % | ||
| S3 | 123.94 | -1.14 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 131.75 | 5.09 % | |
| R2 | 126.41 | 0.83 % | ||
| R1 | 126.38 | 0.81 % | ||
| Current price | 125.37 | |||
| Support | S1 | 124.05 | -1.05% | |
| S2 | 123.85 | -1.21% | ||
| S3 | 121.52 | -3.07% |
MRK Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 14, 2024 | Mar 14, 2024 | Apr 05, 2024 | $0.770 | 0.602% |
| 2 | Nov 28, 2023 | Dec 14, 2023 | Jan 08, 2024 | $0.770 | 0.656% |
| 3 | Jul 25, 2023 | Sep 14, 2023 | Oct 06, 2023 | $0.730 | 0.703% |
| 4 | May 23, 2023 | Jun 14, 2023 | Oct 06, 2023 | $0.730 | 0.703% |
| 5 | Jan 24, 2023 | Mar 14, 2023 | Apr 10, 2023 | $0.730 | 0.648% |
FAQ
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