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Look for Shares of Martin Mar Mtls to Potentially Rebound after Yesterday's 2.07% Sell Off

By Shiri Gupta

Martin Mar Mtls (NYSE:MLM) traded in a range yesterday that spanned from a low of $205.85 to a high of $211.79. Yesterday, the shares fell 2.1%, which took the trading range below the 3-day low of $207.56 on volume of 144,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that its subscribers protect gains by selling shares of Martin Mar Mtls on February 2nd, 2018 by issuing a Downtrend alert when the shares were trading at $219.23. Since that call, shares of Martin Mar Mtls have fallen 4.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

In the past 52 weeks, shares of Martin Mar Mtls have traded between a low of $167.06 and a high of $244.32 and are now at $206.14, which is 23% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 1.7%.

Keywords: rebounders martin mar mtls

Ticker(s): MLM