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After Yesterday's Rally of 1.63% Shares Could Potentially Pullback

By James Quinn

Martin Mar Mtls (NYSE:MLM) traded in a range yesterday that spanned from a low of $238.59 to a high of $245.69. Yesterday, the shares gained 1.6%, which took the trading range above the 3-day high of $238.43 on volume of 218,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Martin Mar Mtls have traded between a low of $190.02 and a high of $281.72 and are now at $242.77, which is 28% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 1%.

SmarTrend recommended that its subscribers protect gains by selling shares of Martin Mar Mtls on January 14th, 2020 by issuing a Downtrend alert when the shares were trading at $265.05. Since that call, shares of Martin Mar Mtls have fallen 10.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders martin mar mtls

Ticker(s): MLM