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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