Mueller Industries: The Winning Streak Continues (MLI)
Mueller Industries (NYSE:MLI) traded at a new 52-week high today of $62.25. This new high was reached on below average trading volume as 62,000 shares traded hands, while the average 30-day volume is approximately 100,000 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.
Mueller Industries has overhead space with shares priced $61.59, or 2.2% below the average consensus analyst price target of $63.00. Mueller Industries shares have support at the 50-day moving average (MA) of $59.72 and additional support at the 200-day MA of $55.13.
Mueller Industries share prices have moved between a 52-week high of $62.25 and a 52-week low of $48.10 and are now trading 28% above that low price at $61.59 per share. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 1.0%.
SmarTrend recommended that subscribers consider buying shares of Mueller Industries on September 20th, 2013 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $56.74. Since that recommendation, shares of Mueller Industries have risen 8.3%. 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