FRI 2/20: MLM – CALLING A BUY SIGNAL (1/3) @ $685.87

3:35 PM – This marks the second consecutive day of above-average volume as shares advance from the 50 DMA. This afternoon, price has reclaimed the 10 DMA and is now trading with limited overhead supply in the way of further potential gains. While the company may only carry decent overall ranks and fundamentals, the technical action is clearly flashing a BUY SIGNAL.

BUY SIGNALS:
2/20 (1/3) @ $685.87

ULTRA Trader’s Tip: Let Technicals Lead When They Improve

• Consecutive above-average volume advances signal accumulation.

• Reclaiming the 10 DMA after defending the 50 DMA strengthens structure.

• Limited overhead supply increases upside probability.

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Chart services courtesy of stockcharts.com. Annotations by James Taulman.