Wednesday, May 11, 2016

Martin Marietta Materials - Chart of the Day

Martin Marietta Materials (MLM) is the Barchart Chart of the Day.  The building materials company has a Trend Spotter buy signal, a Weighted Alpha of 30.30+ and gained 21.39% in the last year.

The Chart of the Day is Martin Marietta Materials (MLM).  I found the building materials stock by using Barchart to sort today's All Time High list first for the most frequent new highs in the last month, then again for technical buy signals of 80% of more.  Next I used the Flipchart feature to review the charts for consistency.  Since the Trend Spotter signaled a buy on 2/12 the stock gained 40.15%.

Martin Marietta Materials producer of aggregates for the construction industry, including highways, infrastructure, commercial and residential. The company also manufactures and markets magnesia-based products, including heat-resistant refractory products for the steel industry, chemicals products for industrial, agricultural and environmental uses, and dolomitic lime.

The status of Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the web site when you read this report.

Barchart technical indicators:

  • 100% technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 16 new highs and up 13.75% in the last month
  • Relative Strength index 75.07%
  • Technical support level at 180.02
  • Recently traded at 186.05 with a 50 day moving average if 162.97
Fundamental factors:
  • Market Cap $ 11.82 billion
  • P/E 35.74
  • Dividend yield .90%
  • Revenue expected to grow 13.60% this year and another 11.70% next year
  • Earnings estimated to increase 64.00% this year, an additional 32.80% next year and continue to increase at an annual rate of 18.60% for the next 5 years
  • Wall Street analysts issued 5 strong buy, 5 buy and 4 hold recommendations on the stock
The 100 day moving average vs. the price has been a reliable trading strategy for this stock.

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