Merck Revisits Low Of Move And Rebounds

Merck & Co., Inc. MRK shares are now nearly unchanged at $54.92 in Wednesday's session.

In just days (October 26 and 27), the stock fell from $61.99 to $54.71.

The first leg of the decline came after the its mixed Q3 report and raised guidance. The second leg lower was instigated by a Morgan Stanley downgrade. On the second day of the swoon, the stock bottomed at $54.41 and that provided the foundation for a rebound that peaked on November 8 at $56.72.

After a lower open today, Merck tested the validity of that low when it reached $54.40 and rallied to $55.19. It's attempting to remain in the $55.00 handle.