MRK.DE closes within previous day's range

Merck Kommanditgesellschaft auf Aktien (MRK.DE) Technical Analysis Report for Apr 16, 2018

Highlights

MRK.DE finds buyers again around 80.46
MRK.DE closes within previous day's range

TQ Sentiment

Report Sentiment: 33% Bearish
Technical Forecast:

Overview

MRK.DE finished Monday at 81.04 losing €0.40 (-0.49%) on low volume. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range.

Daily chart for MRK.DE

Volatility

Monday's trading range was €1.58 (1.93%), that's slightly above last trading month's daily average range of €1.39. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly above average.

Price Action

In spite of a strong opening Merck closed below the prior day's open and close, forming a bearish Engulfing Candle.

Support/Resistance

Prices are trading close to the key resistance level at 81.76. After having been unable to move lower than 80.60 in the previous session, the share found buyers again around the same price level today at 80.46.

Trend

Though the stock is experiencing a short-term up trend, this might just be a correction, as both the medium and long term trends are still in negative territory.

Order Flow

Buying could accelerate should prices move above the close-by swing high at 82.18 where further buy stops might get triggered. Selling could speed up should prices move below the nearby swing low at 79.70 where further sell stops might get activated.

Conclusion

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

Market Conditions for Merck Kommanditgesellschaft auf Aktien

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