Shares of Merk & Co (MRK) are falling sharply today after reporting earnings that did not meet Wall Street expectations. The stock is down over 5% on the day. While nasty, the stock price did tag a key level of support at $72.85. This support level is found by connecting the pivot low from March 2020 to March 2021. That trend line extends out to this exact price point. This tells us Merck is at a key support. If it can hold, the stock should float back higher in the coming weeks and months. If it breaks, look for downside to $65.00.
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