Merck Stock's Rally Could Extend to Record Highs

MRK has been climbing since late November

Deputy Editor
Jan 8, 2024 at 2:55 PM
facebook X logo linkedin


The shares of Merck & Co Inc (NYSE:MRK) are already 7.3% higher since the start of the year, and earlier hit a six-month high of $117.89 before turning lower. The pharma stock has been on an uptrend since bouncing off familiar support at the $100 level in late November, and just inched into positive territory year over year. 

The stock's rally could have legs, too, as its recent highs come amid historically low implied volatility (IV), which has been a bullish combination in the past. Per Schaeffer's Quantitative Analyst Rocky White, there were five other signals over the past five years when MRK was trading within 2% of its 52-week high, while its Schaeffer's Volatility Index (SVI) stood in the 20th percentile of its annual range or lower.

MRK Jan8

This is the case with the stock's current SVI of 17%, which stands in the low 3rd percentile of annual readings. The shares were higher one month later 80% of the time after each of these signals, averaging an 3.1% rise. From its current perch at $116.58, a move of similar magnitude would place the stock above $120, which would represent new record highs. 

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI