MRK.DE pushes through prior session high
Merck Kommanditgesellschaft auf Aktien (MRK.DE) Technical Analysis Report for Jul 13, 2018
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.
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.
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.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
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.
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
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