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Schaeffer's Street Stories: Merck & Co., Inc. Boosted By an Upgrade


//stocks-investing.news-articles.net/content/200 .. -stories-merck-co-inc-boosted-by-an-upgrade.html
Published in Stocks and Investing on Friday, January 23rd 2009 at 13:41 GMT, Last Modified on 2009-01-23 13:42:12 by Market Wire   Print publication without navigation


CINCINNATI--([ BUSINESS WIRE ])--While it has been a see-saw day for the majority of blue chips, Merck & Co., Inc. (NYSE: MRK) has enjoyed today. After earning an upgrade, the pharmaceutical firm was boosted nearly 2.5%. Specifically, Bank of America upped its rating on MRK from "neutral" to "buy."

Technically, shares of MRK have slipped nearly 45% during the past 52 weeks, falling 55 percentage points from their mid-December 2007 high. The stock has found support from its 10-week moving average and at the 26 level. However, the security has been unable to breach resistance at the 32 region. Furthermore, the equity's descending 30-week trendline is looming overhead at this stubborn level. MRK has been unable to close above this moving average since January 2008.

To continue reading this article, click here: [ http://www.schaeffersresearch.com/commentary/content/merck+co+inc+boosted+by+an+upgrade/observations.aspx?click=home&ID=90717 ]


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