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Technical Analysis: Merck Could Be Breaking Out

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Merck surged in late 2022 and consolidated during the first quarter. Now the drug maker could be breaking out.

The first pattern on today’s chart is the rally between mid-October and early January, which included a breakout to new record highs. MRK then pulled back and …

For more, please click here to view the related idea and chart analysis on TradingView.

Merck (MRK), daily chart with selected patterns and indicators, courtesy of TradingView.

About the author

David Russell
David Russell is VP of Market Intelligence at TradeStation Group. Drawing on two decades of experience as a financial journalist and analyst, his background includes equities, emerging markets, fixed-income and derivatives. He previously worked at Bloomberg News, CNBC and E*TRADE Financial. Russell systematically reviews countless global financial headlines and indicators in search of broad tradable trends that present opportunities repeatedly over time. Customers can expect him to keep them apprised of sector leadership, relative strength and the big stories – especially those overlooked by other commentators. He’s also a big fan of generating leverage with options to limit capital at risk.

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