SmarTrend Watching for Potential Rebound in Shares of Martin Marietta Materials After 1.59% Loss
Martin Marietta Materials (NYSE:MLM) traded in a range yesterday that spanned from a low of $190.50 to a high of $196.85. Yesterday, the shares fell 1.6%, which took the trading range below the 3-day low of $195.86 on volume of 354,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.
In the past 52 weeks, Martin Marietta Materials share prices have been bracketed by a low of $108.31 and a high of $206.36 and are now at $193.05, 78% above that low price. The 200-day and 50-day moving averages have moved 0.19% higher and 1.69% higher over the past week, respectively.
SmarTrend recommended that subscribers consider buying shares of Martin Marietta Materials on February 10th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $133.42. Since that recommendation, shares of Martin Marietta Materials have risen 47.5%. We continue to monitor MLM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: rebounders Martin Marietta Materials