Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Merck stock price corrected 5% from the recent swing high.&nbsp;</a> </li> 
 <li> <span>2</span> <a>MRK stock price trying to defend the 50-day and 200-day EMA support.</a> </li> 
 <li> <span>3</span> <a>Merck &amp; Co. Inc. is in a short-term correction phase.</a> </li> 
</ul> 
<p>Merck &amp; Co Inc. MRK stock price corrected approximately 5% from the recent swing high. It faced minor rejection from the $112.00 and prices reverted down. Merck stock price drops below the 50-day EMA which showcases the initial signs of a bearish trend reversal.&nbsp;</p> 
<p>However, the price is near the 200-day EMA which is acting as an immediate support for the bulls.&nbsp;</p> 
<p>For the past two months, MRK stock price has been spending time in the range between $105.00 to $112.00.&nbsp;Buyers and sellers both tried to break either side of the range to give the direction. But the attempt failed and prices continued to trade inside the range.&nbsp;</p> 
<p>At present the sellers seem to be more active as compared to buyers which increases the chances of the breakdown. The price behavior of Merck stock is quite low indicating that the speculative activities are less. So if the price slips below $105.00 then it might invite a further decline.&nbsp;</p> 
<p>Previously, the $100 to $105 range acted as a demand zone and prices showed a sharp bounce. So, investors seem to be expecting that a similar kind of pattern might get repeated.</p> 
<h2 class="wp-block-heading" id="strong-is-mrk-stock-price-turning-bearish-strong"><strong>Is MRK Stock Price Turning Bearish?</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh4.googleusercontent.com/KpuqCW9tn4ULky1IszNqo13V71JFyRvuSmOM0Dh7Ka9eGhfd_VGeZbpdpIVY8p6fgXu8g-9hwoB3FP46D1LzTVGkNSfEY8XiRvw3yvE8lAAb16htgvISef-m8vNcXSxZef-rP2l8dvnoQNpq7RqHco0" alt="Merck Stock: Will MRK Stock Price Take U-Turn From $105?"> 
  <figcaption class="wp-element-caption">
    NYSE: MRK daily chart by <a href="https://www.tradingview.com/x/QSZtK1sQ/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>MRK stock price is in a short-term correction phase and sellers are trying their best to break the lower range. However, the <a href="https://www.thecoinrepublic.com/2023/09/02/will-merck-co-mrk-stock-price-register-breakout-above-112/" rel="noopener noreferrer nofollow">Merck stock</a> price is near the strong demand zone. So, it will be difficult for the sellers to pull the price further down.&nbsp;</p> 
<p>Till the MRK<a href="https://www.thecoinrepublic.com/2023/09/02/will-merck-co-mrk-stock-price-register-breakout-above-112/" target="_blank" rel="noopener noreferrer nofollow"> stock price</a> sustains above $100.00, the probability of taking a U-turn remains high. However, the price will pick up the momentum when buyers are able to break the higher range hurdle of $112.00.&nbsp;</p> 
<p>On the other hand, if the price drops below $100.00, then more downside will open.&nbsp;</p> 
<h3 class="wp-block-heading" id="strong-merck-stock-price-facing-hurdle-at-trendline-strong"><strong>Merck Stock Price Facing Hurdle at Trendline</strong>&nbsp;</h3>  
<div class="tradingview-widget-container"> 
 <div id="tradingview_689ac"></div> 
 <div class="tradingview-widget-copyright"> <a href="https://www.tradingview.com/" rel="noopener noreferrer nofollow" target="_blank"><span class="blue-text">Track all markets on TradingView</span></a> 
 </div> 
 <script type="text/javascript" src="https://s3.tradingview.com/tv.js"></script> 
 <script type="text/javascript">
  new TradingView.widget(
  {
  "width": 950,
  "height": 500,
  "symbol": "NYSE:MRK",
  "interval": "D",
  "timezone": "Etc/UTC",
  "theme": "light",
  "style": "1",
  "locale": "en",
  "enable_publishing": true,
  "allow_symbol_change": true,
  "studies": [
    "STD;Supertrend"
  ],
  "container_id": "tradingview_689ac"
}
  );
  </script> 
</div>  
<p>Merck stock price is facing resistance in the downward-sloping trendline. For the short term, the share price looks bearish. But till the price holds $100, the buyers will remain active.&nbsp;</p> 
<p>The MACD curve slopes downward and also drops below the zero line. It indicates that the price is likely to trade with a mild bearish bias. The RSI at 42 denotes weakness. So, if the price declines further, then RSI may test the neutral territory.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>Merck &amp; Co Inc. MRK stock price corrected approximately 5% from the swing high. It seems mildly bearish for the short term.&nbsp;The technical analysis suggests that the Merck stock price holds the $100 level and the probability of taking a U-turn remains high.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li>Resistance levels: $112.00 and $115.00</li> 
 <li>Support levels: $104.00 and $100.00</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

Merck Stock: Will MRK Stock Price Take U-Turn From $105?

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Thecoinrepublic.com

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