Merck & Co may fall to 98.70 - 100.50

Our pivot point stands at 109.3.

Our preference

The downside prevails as long as 109.3 is resistance.

Alternative scenario

The upside breakout of 109.3 would call for 112.1 and 114.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the stock is trading under both its 20 and 50 day moving average (respectively at 110.571 and 113.9288).

Supports and resistances

114 **

112.1 *

109.3 **

108.1

106.64 (USD-last)

102.2

100.5 **

98.7 *

97 **

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