Merck's stock has formed a double top pattern with a breakdown below the $112.72 neckline, indicating rising bearish pressure and a potential deeper correction. Key resistance levels near $117.36 and $115.72 could limit any short-term rallies. A sustained move above $119.36 is needed to negate the bearish outlook; otherwise, the stock may test lower support levels. Despite this correction risk, Merck's long-term uptrend remains intact, leaving room for a possible bullish recovery if new highs are reached.
The Dow Jones Industrial Average closed at a record 50,579.70, driven by optimism over progress in Iran peace talks and strong earnings reports from companies like Merck, Salesforce, and Cisco. This broad market rally included gains in healthcare, te...
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