Mueller Industries: The Winning Streak Continues (MLI)
Shares of Mueller Industries (NYSE:MLI) traded today at $51.92, breaking its 52-week high. This new high was reached on approximately average trading volume as 110,000 shares traded hands, while the average 30-day volume is approximately 132,000 shares.
Mueller Industries, Inc. manufactures and sells brass, copper, plastic and aluminum products. The Company's products include copper tube and fittings, brass and copper alloy rods and bars, aluminum and brass forgings, aluminum and copper impact extrusions, plastic fittings and valves, refrigeration valves and fittings, and fabricated tubular products.
In the past 52 weeks, shares of Mueller Industries have traded between a low of $39.72 and a high of $51.92 and are now at $51.88, which is 31% 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 0.7%.
Mueller Industries has overhead space with shares priced $51.88, or 7.4% below the average consensus analyst price target of $56.00. The stock should find initial support at its 50-day moving average (MA) of $48.40 and further support at its 200-day MA of $45.60.
SmarTrend recommended that subscribers consider buying shares of Mueller Industries on November 23rd, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $45.92. Since that recommendation, shares of Mueller Industries have risen 12.1%. We continue to monitor MLI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: 52 week high/lows mueller industries