Merck & Co. Inc.(MRK) is in an downtrend but momentum is showing some life

(23-May-2008) (23-May-2008) Merck & Co. Inc.(MRK) closed at 38.62, down -0.12 or -0.31 % today. Based on our analysis, Merck & Co. Inc.(MRK) is in an downtrend but momentum is showing some life.

The closing price of Merck & Co. Inc.(MRK) is below its 50 day moving average of 40.29 (Designated by blue line). This indicates that the trend is down. The MACD histogram(Gray bars on the bottom) above the signal line(Dark Red Line) tells us that Merck & Co. Inc.(MRK) is gaining momentum. An downtrend with sustained rising momentum could be early sign of reversal. The MACD histogram crossed above the signal line on 2-May-2008, about 18 trading days ago.