Merck share price partially used a fresh upside momentum to stop less than half of a dollar below the next $135 psychological resistance. U.S. Food and Drug Administration (FDA), which has approved KEYTRUDA, Merck’s anticancer drug (acting as an immune checkpoint inhibitor to help keeping T-cells from killing other cells) in combination with two other medications called carboplatin and paclitaxel, for the treatment of adult patients with primary advanced or recurrent endometrial carcinoma. It has been reported that KEYTRUDA plus carboplatin and paclitaxel followed by KEYTRUDA alone reduced the risk of disease progression or death by 40% for patients, whose cancer was mismatch repair proficient and by 70% for the group of patients, whose cancer was mismatch repair deficient when compared to placebo with carboplatin and paclitaxel followed by placebo alone.

Thus, this approval is based on data from the Phase 3 trial, being the third endometrial indication and the 40th indication overall for KEYTRUDA in North America. Hitting all-time peak at $134.62 on June 25 was followed by some further price retracement to nearly $127 during the next couple of trading sessions, which looks like a quite natural phenomenon on the market when the price just slightly exceeded the previous technical range. Yet, the bullish pressure quickly renewed, as soon as Merck price just started to bounce, so that it closed at as high as $129.82 on June 27. Any levels between $127 and $130 per share may represent another good chance to buy stocks by investing crowds, with only a tiny likelihood for the price to dive below $125.

We anticipated one more bullish stage in Merck stock since the beginning of the year, when the share price of the world's oldest pharmaceutical concern was hovering below $120. It has already moved to a higher price and now fundamental conditions are looking good for the next evolutionary transition path. So, every other technical call to action to buy Merck may lead its share price closer to Wall Street's analyst pool 12-month target, which is located at nearly $142.70, but may be easily moved to higher levels above $150 at least.