Martin Marietta Materials Drops 3.25% To May Low As Technicals Turn Bearish

Martin Marietta Materials (MLM) closed at $534.42 on June 25, 2025, declining 3.25% with above-average volume of 487,378 shares. This marked the lowest close since late May 2025 and triggered bearish technical signals across multiple indicators as analyzed below.
Candlestick Theory
The June 25 session formed a long-bodied bearish candle after a narrow-range doji on June 24, confirming rejection near the $550–$552 resistance zone established by June 12 and June 23 highs. This pattern signals short-term distribution. Critical support resides at $529–$531 (March 2025 swing low and psychological level), while resistance remains firm between $550–$552. A sustained break below $529 would expose the $515–$520 support shelf.
Moving Average Theory
The 50-day MA (approximately $540) recently crossed below the 100-day MA ($535), indicating deteriorating intermediate momentum. The latest close below both averages confirms bearish near-term alignment. Longer-term sentiment remains supported with the 200-day MA trending upward near $505. Continued trading below the 100-day MA would signal potential acceleration toward the 200-day MA.
MACD & KDJ Indicators
The MACD histogram turned negative in mid-June as the signal line crossed bearishly, corroborating the price breakdown. KDJ registers oversold conditions with the %K line near 20, though no bullish divergence is evident. Momentum remains skewed downward as both oscillators trend below their midline levels. A MACD centerline cross below zero would signal strengthening bearish momentum.
Bollinger Bands
Bands expanded sharply during the June 25 decline, reflecting escalating volatility and directional conviction. Price closed near the lower band (approximately $532), indicating an oversold extreme but without stabilization signs. Band expansion continuation suggests immediate downside risk, with a close below the lower band potentially extending the selloff toward $522.
Volume-Price Relationship
The 3.25% down day occurred on 21% higher volume than the 30-day average, confirming bearish conviction. This distribution signature contrasts with below-average volume during the late May/early June rally, indicating weak accumulation. Downside continuation would require sustained volume intensity, while recovery attempts lacking volume support may fail at resistance.
Relative Strength Index (RSI)
The 14-day RSI (36.7) dipped below the oversold threshold but without bullish divergence. Historically, RSI reversals from sub-40 levels have preceded bounces, though continued compression in the 30–40 zone during a downtrend may delay recovery signals. Decisive improvement would require an RSI break above 45 coinciding with price stabilization.
Fibonacci Retracement
Using the April 11 low ($491.69) and June 12 high ($552.64), the 23.6% retracement ($538.26) failed to hold after the June 25 close. This breach shifts focus to the 38.2% level ($529.36) and the 50% midpoint ($522.17) as next supports. Confluence exists at $529–$531 (38.2% Fib + horizontal support), making it a critical tactical pivot.
Confluence and Divergence
High-probability bearish confluence appears at the $529–$531 zone (38.2% Fibonacci + horizontal support + 100-day MA). Conversely, no significant bullish divergences exist presently—momentum and price remain aligned downward. A reversal would require: (a) defense of $529–$531 with strong volume reversal candles, and (b) MACD/RSI reclaiming neutral levels. Until these conditions materialize, technical structure favors downside continuation toward $515–$520.