The post Assessing Past and Present Performance of the MRK Stock Price  appeared on BitcoinEthereumNews.com.

Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets. Latest posts by Pratik Chadhokar (see all) The MRK stock price started rising at the start of September last year. The bullish phase arrived when the 150-day exponential moving average supported the bulls for rising. This uptrend came with a lot of momentum, hence breaking the significant resistance level of $95.9 in October. The price didn’t rest after it, as it went on to break multiple resistance levels after it. The Launch from RSI When the relative strength index (RSI) went to an oversold level of 78, the bulls finally took some time off and the MRK stock price showed some corrections. Fast forward to November of 2022, another major resistance level of $105 was broken. It further solidified the bullish rally of MRK stocks, which lasted when the stock made a high of $115 in January. Some corrections were seen as the MRK stock price bounced off between $110 and $105 for some time. The Bulls made another comeback in May, where they broke a significant resistance of $110. The stock price made an all-time high of $119.6 at that month’s start.  The Bears Have Arrived The bears are in control and the stock is in a downtrend. The 150-day exponential moving average is in line with the point of control in Fixed horizontal volume. It means that the significant buy/sell levels are near that. Moreover, as this trend perishes, support levels are slowly getting…

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Filed under: News - @ October 15, 2023 11:04 pm