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SmarTrend Watching for Potential Rebound in Shares of Martin Marietta Materials After 1.71% Loss

By David Diaz

Martin Marietta Materials (NYSE:MLM) traded in a range yesterday that spanned from a low of $174.55 to a high of $178.21. Yesterday, the shares fell 1.7%, which took the trading range below the 3-day low of $174.78 on volume of 329,000 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 Marietta Materials on August 30th, 2016 by issuing a Downtrend alert when the shares were trading at $188.92. Since that call, shares of Martin Marietta Materials have fallen 5.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Martin Marietta Materials share prices have moved between a 52-week high of $206.36 and a 52-week low of $108.31 and are now trading 62% above that low price at $175.13 per share. 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%.

Keywords: rebounders Martin Marietta Materials

Ticker(s): MLM