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Downtrend ResistanceArchive
- 4/26/2024 -
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Martin Marietta Materials (MLM) Technical Analysis
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| Summary:
| | Weekly : | | Daily : 
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| | It was a first positive week for the Martin Marietta Materials (MLM). During the week, the MLM gained 29.10 points, or 5.05%, and closed at 604.99 on Friday, April 26, 2024. Weekly volume was -6% below 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 6.35% 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. The price is now at the 9.16% retracement level.
 Weekly Technical Indicators: [See MLM weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish 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 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 low and getting smaller. It indicates that the current medium-term uptrend is getting weak. 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 chart has formed a Broadening Descending Wedge chart pattern. The price is near the trend resistance line (606.57). 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. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal.
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 low and getting smaller. It indicates that the current short-term downtrend is getting weak.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
During the last week, the price has moved above the moving average in the center of the Bollinger Bands. 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 advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. 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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