Martin Marietta Materials Bearish Moving Average Crossover Alert (MLM)
Martin Marietta Materials (NYSE:MLM) crossed under its 10-day moving average of $188.81 on a volume of 153K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
Martin Marietta Materials share prices have moved between a 52-week high of $193.87 and a 52-week low of $108.31 and are now trading 74% above that low price at $188.17 per share. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 1.7%.
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 42.3%. 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