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Construction Materials Industry Stocks Technical Analysis - MLMArchive
- 4/19/2024 -
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Martin Marietta Materials (MLM) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the Martin Marietta Materials (MLM). During the week, the MLM dropped -26.22 points, or -4.35%, and closed at 575.89 on Friday, April 19, 2024. Weekly volume was 57% above average.
MLM is a member of Materials Sector. Materials is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See MLM long-term trend chart]
A long-term uptrend had started on July 5, 2022 at 284.99 and reached 626.67 on April 8, 2024. MLM gained -341.68 points, or -119.89%, in 91 weeks. The price is now at the 14.86% retracement level.
Medium-term trend: [See MLM medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 389.90 and reached 626.67 on April 8, 2024. MLM gained -236.77 points, or -60.73%, in 23 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Weekly Technical Indicators: [See MLM weekly technical indicators chart]
Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.
The weekly MACD line is above its signal line since November 24, 2023. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.
 Short-term trend: [See MLM short-term trend chart]
A short-term downtrend had started on April 8, 2024 at 626.67 and reached 572.57 on April 19, 2024. MLM lost 54.10 points, or 8.63%, in 11 days. The price is now at the 6.14% retracement level.
 Daily Technical Indicators: [See MLM daily technical indicators chart]
Daily Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Lane's Stochastic.
The daily MACD line is below its signal line since March 14, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term downtrend is strong.
The price has closed on Friday below the lower Bollinger Band. It is considered a bearish signal. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
During the last week, the price has crossed below the 50 Day Moving Average. While the medium-term trend is up and daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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