Martin Marietta Bearish Signs

New York, September 15th - Shares of Martin Marietta Materials, Inc. ended the trading session lower by $0.9 or -1.15% from its previous close. Martin Marietta's price action formed what is considered to be a bearish engulfing candlestick chart pattern.
Martin Marietta Materials, Inc. produces 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, chemical products for industrial and environmental uses.
Martin Marietta's current stock range is defined by calculated support defined at $76.53 and by the resistance level at $80.68, which should be used by traders planning their trades.
Traders wanting to establish a position in Martin Marietta stock need to pay close attention at the bearish engulfing pattern, since it could mark a trend reversal to current Martin Marietta shares price action. The Bearish engulfing pattern is a leading warning sign, therefore traders should closely monitor price action for indications of a trend reversal.