Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>MRK stock price has experienced a slight downtrend in recent times.</a> </li> 
 <li> <span>2</span> <a>The stock has just made an all-time high this May, see the possible price predictions below&nbsp;</a> </li> 
 <li> <span>3</span> <a>The RSI is below the neutral zone while the price is near its immediate resistance level.</a> </li> 
</ul> 
<p>The MRK stock price started rising at the start of September last year. The bullish phase arrived when the 150-day exponential moving average supported the bulls for rising. This uptrend came with a lot of momentum, hence breaking the significant resistance level of $95.9 in October. The price didn’t rest after it, as it went on to break multiple resistance levels after it.</p> 
<h2 class="wp-block-heading" id="strong-the-launch-from-rsi-strong"><strong>The Launch from RSI</strong></h2> 
<p>When the relative strength index (RSI) went to an oversold level of 78, the bulls finally took some time off and the MRK stock price showed some corrections. Fast forward to November of 2022, another major resistance level of $105 was broken. It further solidified the bullish rally of MRK stocks, which lasted when the stock made a high of $115 in January.</p> 
<p>Some corrections were seen as the MRK stock price bounced off between $110 and $105 for some time. The Bulls made another comeback in May, where they broke a significant resistance of $110. The stock price made an all-time high of $119.6 at that month’s start.&nbsp;</p> 
<h3 class="wp-block-heading" id="strong-the-bears-have-arrived-strong"><strong>The Bears Have Arrived</strong></h3> 
<p>The bears are in control and the stock is in a downtrend. The 150-day exponential moving average is in line with the point of control in Fixed horizontal volume. It means that the significant buy/sell levels are near that.</p> 
<p>Moreover, as this trend perishes, support levels are slowly getting broken. It indicates that the bears are getting a hold on the stock. Since the MRK stock has made a recent all-time high, it is acceptable to see some cooling down in the bullish rally as the short-term investors are exiting.</p> 
<h2 class="wp-block-heading" id="strong-technical-analysis-and-prediction-of-the-mrk-stock-price-strong"><strong>Technical Analysis and Prediction of the MRK Stock Price&nbsp;</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter">
  <img decoding="async" loading="lazy" width="1600" height="799" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-428.png" alt="Assessing Past and Present Performance of the MRK Stock Price&nbsp;" class="wp-image-176007" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-428.png 1600w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-428-300x150.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-428-1024x511.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-428-768x384.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-428-1536x767.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-428-360x180.png 360w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-428-750x375.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-428-1140x569.png 1140w" sizes="(max-width: 1600px) 100vw, 1600px">
  <figcaption class="wp-element-caption">
   Chart provided by<a href="https://in.tradingview.com/chart/X78t0Vyp/?symbol=NYSE%3AMRK"> TradingView </a>&nbsp;(Daily time frame)
  </figcaption>
 </figure>
</div> 
<p>At the press time, the MRK <a href="https://www.thecoinrepublic.com/2023/09/13/iag-stock-price-half-yearly-reports-overwhelm-the-investors/" target="_blank" rel="noreferrer noopener">stock price</a> has just bounced off its immediate support level of $100. The rebound happened as the relative strength index touched its oversold level of 28. The current trading price is $104. As the stock price rises, the immediate resistance level is at $105.</p> 
<p>The price prediction for the MRK stock is coming off in two ways after the analysis. The first possibility will be a breakout past the resistance level along with the trendline. Consolidation is also possible between the first support and the first resistance for a few more days.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>The MRK stock price has seen a major bullish rally from the start of October last year. It helped in getting an all-time high for the stock this May. Since then, the stock price trend has been bearish, while it is predicted that the bulls may make a breakout past the immediate resistance level.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<p>Resistance Levels: $105, and $110</p> 
<p>Support Levels: $100, and $96</p> 
<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 in stocks or related indexes comes with a risk of financial loss.</p>

Assessing Past and Present Performance of the MRK Stock Price

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Thecoinrepublic.com

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