Merck & Co may fall to 116.20 - 119.00

Our pivot point is at 132.9.

Our preference

As long as 132.9 is resistance look for 119.

Alternative scenario

Above 132.9, look for 137.8 and 140.6.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and negative. The penetration of 50 on the RSI should trigger further losses. Moreover, the stock is trading above its 20 day moving average (128.597) but under its 50 day moving average (129.0372).

Supports and resistances

140.6 **

137.8 *

132.9 **

131.1

128.97 (USD-last)

121.8

119 **

116.2 *

113.3 **

Number of asterisks represents the strength of support and resistance levels.