MRK.DE finds support at 200-day moving average

Merck Kommanditgesellschaft auf Aktien (MRK.DE) Technical Analysis Report for Sep 14, 2018

Highlights

MRK.DE breaks key support level
MRK.DE finds support at 200-day moving average
MRK.DE closes lower for the 2nd day in a row
MRK.DE breaks below previous session low
MRK.DE falls to lowest close since July 25th

TQ Sentiment

Report Sentiment: 40% Bearish
Technical Forecast:

Overview

Moving lower for the 2nd day in a row, MRK.DE ended the week -2.7% lower at 86.40 after losing €0.94 (-1.08%) today on high volume. Today's closing price of 86.40 marks the lowest close since July 25th. Closing below Thursday's low at 87.26, the share confirms its breakout through the previous session's low having traded €2.04 below it intraday.

Daily chart for MRK.DE

Volatility

Friday's trading range was €2.68 (3.06%), that's far above last trading month's daily average range of €1.37. Weekly volatility is also higher, being way above the markets average with the monthly volatility being slightly above average.

Support/Resistance

Breaking below the key support level at 86.46 today, it is now likely to act as resistance going forward. After trading as low as 85.22 during the day, the market found support at the 200-day moving average at 85.50.

Trend

Though Merck is currently in a short-term down trend, this might just be a correction, as the medium and long term trends are both positive.

Conclusion

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

Market Conditions for Merck Kommanditgesellschaft auf Aktien

Condition Forecast Direction Win Rate Exit Day Events
2 Consecutive Higher Closes TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
Bounced off Technical Support S1 TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Close to R1 Resistance TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

MRK.DE pushes through prior session high

Sep 18, 2018
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