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Martin Marietta Materials Bearish Moving Average Crossover Alert (MLM)

By Shiri Gupta

Martin Marietta Materials (NYSE:MLM) crossed under its 10-day moving average of $199.73 on a volume of 342K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, Martin Marietta Materials share prices have been bracketed by a low of $108.31 and a high of $206.36 and are now at $195.92, 81% above that low price. The 200-day and 50-day moving averages have moved 0.19% higher and 1.69% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Martin Marietta Materials on February 10th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $133.42. Since that recommendation, shares of Martin Marietta Materials have risen 51.9%. We continue to monitor MLM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses Martin Marietta Materials

Ticker(s): MLM