Merck & Co.: outside bar pattern, watch volumes

An outside bar pattern drawn on Merck & Co. daily chart, watch volumes before opening long o short positions.

Merck & Co. stock closing price was $ 66.12. For intraday trading session the technical view is positive and leaves assume the up-trend continuation. An outside bar pattern drawn on Merck & Co. daily chart, watch volumes before opening long o short positions. The major oscillators confirm the upward trend.
MERCK & COMPANY INC.

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Simple Moving Average (SMA)
Merck & Co. stock price are above 14 day moving average (SMA value is 63.76). The short term view is strongly bullish.
Volumes
3M Company daily chart shows an increase in volumes compared to the previous day.


Support and Resistance levels
7, 15 and 30 trading days Performance. Support, Resistance and Pivot Point levels. Last updated closing price: 23/08/2017.

Performance: 7 trading days= +3.34% – 15 trading days= +5.47% – 30 trading days= +4.12%

Resistance levels: R1= 66.57 – R2= 67.00 – R3= 68.26
Pivot Point: 65.74
Support levels: S1= 65.31 – S2= 64.48 – S3= 63.2


Buying opportunity above 66.29, targets minor resistance at 66.57 and perhaps as far as strong resistance at 67.00, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 68.96.

Selling opportunity below 65.74, targets minor support at 65.31 and perhaps as far as strong support at 64.48, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 63.30.

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