Very long term monthly chart of MRK.  Currently attempting to break the large declining tops line.  Formed a nice double bottom off of long term support.  Working on a fifth straight month of gains, hasn't done this since 94/95.

Longer term, this type of price action is encouraging.  Heavy resistance may come into play in the 42 range.  However, the heavy volume in the late 04 sell-off may have cleared out some of that supply. 

The stock still pays about a 4% dividend.

The company appears to be handling the recent litigation issues fairly well also.  

Disclosure:  I have long term holdings in this stock.

PIK