MRK.DE pushes through prior session high


Merck Kommanditgesellschaft auf Aktien (MRK.DE) Technical Analysis Report for Jul 13, 2018 [< 1 min read]
Highlights
MRK.DE runs into sellers around 85.80 for the third day in a row
MRK.DE closes higher for the 2nd day in a row
MRK.DE pushes through previous session high
TQ Sentiment
Report Sentiment: 0% Neutral
Technical Forecast:
Overview

Moving higher for the 2nd day in a row, MRK.DE finished the week 0.73% higher at 85.62 after gaining €0.54 (0.63%) today on low volume. Closing above Thursday's high at 85.60, the market confirms its breakout through the previous session's high having traded €0.20 above it intraday.

Daily chart for MRK.DE
Volatility

Friday's trading range was €0.82 (0.96%), that's below last trading month's daily average range of €1.35. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average.

Support/Resistance

Prices are trading close to a key support level at 84.86. Prices are trading close to the key resistance level at 86.30. Merck ran into sellers again today around 85.80 for the third trading day in a row after having found sellers at 85.60 in the prior session and at 85.70 two days ago.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Order Flow

Buying might accelerate should prices move above the close-by swing high at 86.46 where further buy stops could get triggered. Selling might speed up should prices move below the nearby swing low at 84.24 where further sell stops could get activated.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.

Market Conditions for Merck Kommanditgesellschaft auf Aktien
ConditionForecastDirectionWinAvgWorstBestEvents
Rickshaw-Man TQ Pro Members Only
Northern Doji TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
Doji TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
More market conditions identified for TQ Pro members...
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