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Martin Marietta Materials (MLM) Approaches New Downside Target of $84.60

Written on Wed, 07/28/2010 - 1:47pm
By Chip Brian

SmarTrend has detected shares of Martin Marietta Materials (NYSE:MLM) have bearishly opened below the pivot of $87.12 today and have reached the first level of support of $85.47.
Should the shares continue to fall, we are monitoring the next support pivots of $84.60 and $82.08. Also, the shares are currently trading below the 50-day moving average of $88.99 and below the 200-day moving average of $87.29.
SmarTrend, our proprietary pattern recognition system, alerted subscribers to sell shares of Martin Marietta Materials on May 05, 2010 at $90.56. Since the call, the stock has fallen 5.8%.

Contact Chip Brian
Smartrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.mysmartrend.com.

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