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Downtrend Broken Resist.Archive
- 4/5/2024 -
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Martin Marietta Materials (MLM) Technical Analysis
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| Summary:
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| | It was a third consecutive positive week for the Martin Marietta Materials (MLM). During the week, the MLM climbed 5.47 points, or 0.89%, and closed at 619.41 on Friday, April 5, 2024. MLM was trading at average weekly trading volume.
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 622.28 on April 5, 2024. MLM gained -337.29 points, or -118.35%, in 91 weeks. Price is near the trend high.
 Medium-term trend: [See MLM medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 389.90 and reached 622.28 on April 5, 2024. MLM gained -232.38 points, or -59.60%, in 23 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (648.31) is broken. A broken support is considered to be a long-term bearish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a medium-term trend.
 Weekly Technical Indicators: [See MLM weekly technical indicators chart]
Weekly Relative Strength Index is overbought while Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index or strongly overbought weekly Williams' Percentage Range and Lane's Stochastic. Weekly Relative Strength Index, Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Relative Strength Index, Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with weekly Relative Strength Index, Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. 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 links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range 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. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help.
 Short-term trend: [See MLM short-term trend chart]
A short-term uptrend had started on March 11, 2024 at 590.40 and reached 622.28 on April 5, 2024. MLM gained -31.88 points, or -5.40%, in 25 days. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend resistance line (621.54). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a short-term trend.
 Daily Technical Indicators: [See MLM daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since March 14, 2024.
The price has closed on Friday above the upper Bollinger Band. It is considered a bullish signal. The distance between the Bollinger Bands (4.02%) is close to one year low (3.87%). It is 60.53% lower than one year average. It indicates the period of low volatility of the stock price, and it is considered a buy signal for the option traders. 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.
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