Resistance

Million

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>MMC stock price is below the channel lower trendline of $190.</a> </li> 
 <li> <span>2</span> <a>Buyers are trapped and started unwinding long positions post breakdown.</a> </li> 
</ul> 
<p>Marsh &amp; McLennan Companies Companies (MMC stock) posted the Q3 earnings results this week, which was per the estimates. However, MMC stock reacted adversely, breaking the channel lower trendline of $190. However, the MMC stock has taken support on the 100 day EMA and massive short additions were noted. Furthermore, the chart shows that MMC stock has been in an uptrend and persisted in giving positive returns amid the bearish market sentiments. MMC stock has the immediate support zone of $180 and $175.</p> 
<p>MMC stock price is in a strong uptrend and has reached the bull trajectory, whereas sellers are willing to push it below toward the trajectory swing of $150. However, the bulls attained strength and did not permit the sellers easily and tried to hold the selloff near 200 day EMA at $180. Per the options chain, at the strike price of $190, there was a massive open interest of 186 hundred shares on the put side, whereas 107 hundred shares on the call side, which shows that put writers were in trouble and will try to retain the channel lows to resume the uptrend.</p> 
<p>At press time, MMC stock price was $187.67 with an intraday drop of 1.74%, showing profit booking. Moreover, the trading volume increased by 1.67% to 3.78 Million and the market cap is $92.535 Billion. Furthermore, analysts have maintained a buy rating with a yearly target price of $204.54 suggesting a strong growth outlook.</p> 
<p>Marsh &amp; McLennan Cos., Inc. is a professional services firm, which engages in offering clients advice and solutions in risk, strategy, and people. It operates through the Risk and Insurance Services, and Consulting segments. The Risk and Insurance Services segment is involved in risk management activities, as well as insurance and reinsurance broking and services.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-will-mmc-extend-fall-or-settles-near-100-day-ema-strong"><strong>Will MMC Extend Fall or Settles Near 100 Day EMA?</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter">
  <img decoding="async" loading="lazy" width="1600" height="752" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-626.png" alt="MMC Stock Price Exit Channel Lows, Amid Favorable Q3 Earnings" class="wp-image-177374" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-626.png 1600w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-626-300x141.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-626-1024x481.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-626-768x361.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-626-1536x722.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-626-750x353.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-626-1140x536.png 1140w" sizes="(max-width: 1600px) 100vw, 1600px">
  <figcaption class="wp-element-caption">
   Source: MMC Stock Price Chart At TradingView
  </figcaption>
 </figure>
</div> 
<p>On the daily charts, MMC stock price is trading close to the 100 day EMA and bulls are trying to hold the gains near it and will attempt a pullback to retain the amid the healthy Q3 numbers which was per the estimates, but market reacted to it adversely. MMC stock price split the 61.8% Fibonacci retracement level and slipped below the mid bollinger band.</p> 
<p>The RSI curve slipped below the neutrality and showed a negative crossover which suggests that follow on selling will persist in the next sessions. The MACD indicator shows a bearish crossover formed red bars on the histogram suggesting a negative outlook.</p> 
<h4 class="wp-block-heading"><strong>Summary&nbsp;</strong></h4> 
<p><a href="https://www.thecoinrepublic.com/2023/10/20/nike-stock-price-analysis-v-shape-recovery-in-nke-stock/" target="_blank" rel="noreferrer noopener">MMC stock price </a>split the channel low of $190 and broke down amid the healthy Q3 results. Furthermore, the MMC stock price slipped below the 20 day and 50 day EMAs and is close to the 100 day EMA. However, buyers did not lose momentum and still make long build ups which is a sign that a pullback may be seen toward the channel lower trendline near $290.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<p>Support Levels: $185 and $180</p> 
<p>Resistance Levels: $190 and $200</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.</p>

MMC Stock Price Exit Channel Lows, Amid Favorable Q3 Earnings

Table of Contents

Thecoinrepublic.com

Other articles published on Oct 22, 2023

Bitcoin Price Prediction: Will BTC Reach $32,000? Crypto Analyst Capo Gives His Insights

Global Regulators to Edict Crypto Exposures Disclosure for Banks

Top 5 UK Aviation Stocks That’ll Be Profitable Investments

Meta Legends NFT: Discovering the Meta Life with 3D Avatars

Amazon’s Strategic Moves in AI and Healthcare Fuel Optimism Amid Tech Turbulence

How Top Companies Reshape the Energy Landscape With Blockchain Technology

Join our free newsletter for daily crypto updates!