Martin Marietta Materials Crosses Below its 10-day MA (MLM)
Today, shares of Martin Marietta Materials (NYSE:MLM) have crossed bearishly below their 10-day moving average of $195.08 on a volume of 125K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
In the past 52 weeks, shares of Martin Marietta Materials have traded between a low of $108.31 and a high of $206.36 and are now at $191.92, which is 77% above that low price. Over the last five market days, 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 46.5%. 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