MRK is currently undervalued. The stock price dropped approximately 45% from June 25th of last year to May 15th of this year. At present, the price has bounced off a long-term weekly trendline that has been respected since 2009, indicating a strong rejection zone.
Additionally, on the daily timeframe, the long-standing bearish channel was broken on July 8th. This breakout suggests a likely continuation to the upside. A conservative and highly probable price gain of around 30% is expected from here.
Additionally, on the daily timeframe, the long-standing bearish channel was broken on July 8th. This breakout suggests a likely continuation to the upside. A conservative and highly probable price gain of around 30% is expected from here.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.