Merck Stock Forecast
Merck stock upgraded to Strong Buy Candidate.
(Updated on Mar 27, 2024)
The Merck stock price gained 4.96% on the last trading day (Wednesday, 27th Mar 2024), rising from $125.52 to $131.75. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.30% from a day low at $130.11 to a day high of $133.10. The price has risen in 7 of the last 10 days and is up by 7.85% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 12 million more shares were traded than the day before. In total, 16 million shares were bought and sold for approximately $2.09 billion.
The stock lies in the upper part of a weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $133.43 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 8.59% during the next 3 months and, with a 90% probability hold a price between $132.55 and $144.89 at the end of this 3-month period.
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MRK Signals & Forecast
Mostly positive signals in the chart today. The Merck stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $125.16 and $125.43. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, March 14, 2024, and so far it has risen 9.33%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Merck stock
On the downside, the stock finds support just below today's level from accumulated volume at $123.85 and $121.52. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Merck finds support just below today's level at $123.85. If this is broken, then the next support from accumulated volume will be at $121.52 and $118.43.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $2.99 between high and low, or 2.30%. For the last week the stock has had daily average volatility of 1.34%.
Our recommended stop-loss: $127.14 (-3.50%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (MRK) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Merck & Company Inc to open at $131.65, and during the day (based on 14 day Average True Range), to move between $129.43 and $134.07, which gives a possible trading interval of +/-$2.32 (+/-1.76%) up or down from last closing price. If Merck & Company Inc takes out the full calculated possible swing range there will be an estimated 3.53% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $123.85, some $7.90 (6.00%) from the current price of $131.75, our system finds the risk reward attractive.
Is Merck & Company Inc stock A Buy?
Merck holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.
Current score: 5.739 Strong Buy Candidate Upgraded
Predicted Opening Price for Merck & Company Inc of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$131.65 ( 0.0734%) | $131.75 |
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 | 134.64 | 2.20 % | |
R2 | 133.50 | 1.33 % | ||
R1 | 132.80 | 0.794 % | ||
Current price: | 131.75 | |||
Support | S1 | 130.51 | -0.94 % | |
S2 | 129.81 | -1.48 % | ||
S3 | 128.66 | -2.34 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 131.75 | |||
Support | S1 | 123.85 | -6.00% | |
S2 | 121.52 | -7.76% | ||
S3 | 118.43 | -10.11% |
MRK Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 14, 2024 | Mar 14, 2024 | Apr 05, 2024 | $0.770 | 0.584% |
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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