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Eagle Materials Looks to Continue to Trade Below its Annual-Low Share Price Today

By David Diaz

Eagle Materials (NYSE:EXP) traded at a new 52-week low today of $79.93. So far today approximately 84,000 shares have been exchanged, as compared to an average 30-day volume of 600,000 shares.

Eagle Materials has overhead space with shares priced $80.17, or 36.7% below the average consensus analyst price target of $126.62. The stock should find initial resistance at its 50-day moving average (MA) of $91.02 and further resistance at its 200-day MA of $102.75.

Eagle Materials Inc. manufactures and distributes cement, gypsum wallboard, recycled paperboard, and concrete and aggregates. The Company's products are used in the construction of homes, commercial and industrial buildings, and governmental buildings across the United States.

In the past 52 weeks, Eagle Materials share prices have been bracketed by a current low of $79.93 and a high of $122.49 and are now at $80.17. The 200-day and 50-day moving averages have moved 0.4% lower and 1.35% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Eagle Materials on July 30th, 2018 by issuing a Downtrend alert when the shares were trading at $102.31. Since that call, shares of Eagle Materials have fallen 21.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows eagle materials

Ticker(s): EXP