Stocks & Investing
Stocks and Investing
Stocks and Investing
Thu, January 29, 2009
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Fri, January 23, 2009 Schaeffer's Street Stories: Merck & Co., Inc. Boosted By an Upgrade
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.
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