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Look for Shares of Martin Mar Mtls to Potentially Rebound after Yesterday's 2.37% Sell Off

By Shiri Gupta

Martin Mar Mtls (NYSE:MLM) traded in a range yesterday that spanned from a low of $170.16 to a high of $176.72. Yesterday, the shares fell 2.4%, which took the trading range below the 3-day low of $174.74 on volume of 428,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Martin Mar Mtlshas traded in a range of $170.16 to $241.33 and are now at $171.40. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.7% while the 200-day MA has slid 0.2%.

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

Keywords: rebounders martin mar mtls

Ticker(s): MLM