• Subscribe
  • Log In
  • Home
  • Daily Diary
  • Asset Class
    • U.S. Equity
    • Fixed Income
    • Global Equity
    • Commodities
    • Currencies
  • Sector
    • Basic Materials
    • Consumer Discretionary
    • Consumer Staples
    • Energy
    • Financial Services
    • Healthcare
    • Industrials
    • Real Estate
    • Technology
    • Telecom Services
    • Transportation
    • Utilities
  • Latest
    • Articles
    • Video
    • Columnist Conversations
    • Best Ideas
    • Stock of the Day
  • Street Notes
  • Authors
    • Bruce Kamich
    • Doug Kass
    • Jim "Rev Shark" DePorre
    • Helene Meisler
    • Jonathan Heller
    • - See All -
  • Options
  • RMPIA
  • Switch Product
    • Action Alerts PLUS
    • Quant Ratings
    • Real Money
    • Real Money Pro
    • Retirement
    • Stocks Under $10
    • TheStreet
    • Top Stocks
    • TheStreet Smarts
  1. Home
  2. / Investing
  3. / Stocks

Martin Marietta Looked Bullish Even Before Getting an Upgrade

Here's our updated trading strategy and price targets.
By BRUCE KAMICH
Dec 17, 2021 | 10:20 AM EST
Stocks quotes in this article: MLM

Building materials supplier Martin Marietta Materials ( MLM) was just upgraded by an analyst at Barclays to "Overweight." Let's check out the charts again and see what they say.
 
We last reviewed MLM on Nov. 9 and wrote that, "Traders could go long MLM as close to $420 as possible, risk to $380 for now. The $480 area is our first price target. The round number of $500 is our secondary target." 
 
In the daily bar chart of MLM, below, we can see that the shares have been moving from the lower left hand side of the chart to the upper right hand side of the chart -- an uptrend. Prices are trading above the rising 50-day moving average line and the rising 200-day moving average line.
 
The daily On-Balance-Volume (OBV) line shows weakness from August into October but it is starting to improve again. The trend-following Moving Average Convergence Divergence (MACD) oscillator is in a bullish alignment above the zero line. 
 
 
In the weekly Japanese candlestick chart of MLM, below, we see a positive chart with no top reversal patterns at this point in time. MLM is trading above the rising 40-week moving average line.
 
The weekly OBV line has been in an uptrend from early 2020 but looks like it has leveled off recently. The MACD oscillator is bullish. 
 
 
 
In this daily Point and Figure chart of MLM, below, we can see that prices have broken out to a new high. A price target of $521 is being projected. 
 
 
In this weekly Point and Figure chart of MLM, below, we see a price target in the $627 area. 
 
 
Bottom-line strategy: The charts and indicators of MLM (above) are bullish. Traders could buy available weakness but need to risk to $404 for now. The $521 area is our price target for now.
 
Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.

Employees of TheStreet are prohibited from trading individual securities.

TAGS: Investing | Stocks | Technical Analysis | Construction & Engineering | Materials | Analyst Actions | Basic Materials

More from Stocks

Take a Fresh Look at Where You Put Your Cash

Peter Tchir
Mar 27, 2023 12:40 PM EDT

Let's get back to the basics of cash reallocation and see why I'm not freaking out, but I'm also not in a mood for risk.

Why Market Indexes Are Often a Poor Measure of What's Really Going On

James "Rev Shark" DePorre
Mar 27, 2023 11:55 AM EDT

We are witnessing one of the most extreme disconnects in decades between the Nasdaq 100 and Russell 2000.

What the Fed Has Wrought

Bret Jensen
Mar 27, 2023 11:00 AM EDT

Damage From the central bank's policy mistakes are likely to keep growing.

Movado Shows Now Isn't the Time to Issue Disappointing Guidance

Jonathan Heller
Mar 27, 2023 10:35 AM EDT

The watchmaker saw its shares hammered on its outlook, which is a cautionary tale for other stocks.

Workday's Stock Looks Ready to Make Further Gains

Bruce Kamich
Mar 27, 2023 10:34 AM EDT

Let's check the charts and indicators.

Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation. If you have questions, please contact us here.

Email

CANCEL
SUBMIT

Email sent

Thank you, your email to has been sent successfully.

DONE

Oops!

We're sorry. There was a problem trying to send your email to .
Please contact customer support to let us know.

DONE

Please Join or Log In to Email Our Authors.

Email Real Money's Wall Street Pros for further analysis and insight

Already a Subscriber? Login

Columnist Conversation

  • 01:56 PM EDT PETER TCHIR

    Very Cautious

    I am very cautious here. I don't like how the c...
  • 08:58 AM EDT JAMES "REV SHARK" DEPORRE

    This Weekend on Real Money

    How to Adjust Your Trading Style as Market Conditi...
  • 05:00 PM EDT CHRIS VERSACE

    AAP Podcast on the Fed Decision!

    Listen here!
  • See More

COLUMNIST TWEETS

  • A Twitter List by realmoney
About Privacy Terms of Use

© 1996-2023 TheStreet, Inc., 225 Liberty Street, 27th Floor, New York, NY 10281

Need Help? Contact Customer Service

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data & Company fundamental data provided by FactSet. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by FactSet Digital Solutions Group.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

FactSet calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.

Compare Brokers

Please Join or Log In to manage and receive alerts.

Follow Real Money's Wall Street Pros to receive real-time investing alerts

Already a Subscriber? Login