Buyers Stepping In - Merck

Published on Friday, 15 April 2011 11:46 Written by TradersHuddle Staff

New York, April 15th (TradersHuddle.com) - Unusual high volume detected on shares of Merck & Co. Inc. (NYSE:MRK), early in the trading session. Merck is currently trading higher by 2.48%, so definitely the buyers stepping in, as the stock's volume is already above average.

Merck & Co., Inc. (NYSE:MRK), the global pharmaceutical company that develops, manufactures, and markets a broad range of human and animal health products. Merck's products include Zocor for treatment of elevated cholesterol, Propecia for treatment for male pattern hair loss, Fosamax for preventive treatment of osteoporosis, and Singulair for treatment of asthma. Merck was founded in 1891 and is headquartered in Whitehouse Station, New Jersey.

Merck has already traded 1.003 times its 3-month average volume, and has calculated support and resistance at $31.06 and $32.90 respectively. Traders like to use volume as their lie detector for price action moves through predefined trading ranges.

The overall market index S&P 500 is trading higher by 0.3% from its previous trading close, which means that Merck stock is outperforming the overall market.