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After Yesterday's Rally of 2.06% Shares Could Potentially Pullback

By Nick Russo

Martin Marietta Materials (NYSE:MLM) traded in a range yesterday that spanned from a low of $218.70 to a high of $222.84. Yesterday, the shares gained 2.1%, which took the trading range above the 3-day high of $218.98 on volume of 359,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Martin Marietta Materials has traded in a range of $108.31 to $243.98 and is now at $221.83, 105% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.7% while the 200-day MA has risen 0.2%.

SmarTrend is tracking the current trend status for Martin Marietta Materials and will alert subscribers who have MLM in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders Martin Marietta Materials

Ticker(s): MLM