MLM closes below its opening price unable to hold early session gains

Martin Marietta Materials Inc. (MLM) Technical Analysis Report for Jun 14, 2018 | by Techniquant Editorial Team


MLM finds buyers around 228.89 for the third day in a row
MLM closes below its opening price unable to hold early session gains
MLM stuck within tight trading range
MLM closes within previous day's range
MLM ends the day indecisive


MLM ended Thursday at 230.20 gaining $0.24 (0.1%). Trading $1.57 higher after the open, the market was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily Candlestick Chart (MLM as at Jun 14, 2018):

Daily technical analysis candlestick chart for Martin Marietta Materials Inc. (MLM) as at Jun 14, 2018

Thursday's trading range was $3.50 (1.52%), that's slightly below last trading month's daily average range of $4.21. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being below average. Prices continued to consolidate within a tight trading range between 228.87 and 232.89 which it has been in now for the last three days.

Prices are trading close to a key support level at 228.81. Martin Marietta found buyers again today around 228.89 for the third trading day in a row after having found demand at 229.21 in the prior session and at 228.87 two days ago.

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Buying might speed up should prices move above the close-by swing high at 232.89 where further buy stops could get triggered.

Market Conditions for MLM as at Jun 14, 2018

Loading Market Conditions for MLM (Martin Marietta Materials Inc.)...
Latest Report:

MLM finds buyers again around 216.96

May 17, 2019
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Martin Marietta Materials Inc. traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Find out more
Top Movers
You have free reports remaining. Subscribe for unlimited access...SUBSCRIBELOGINGO!