MLM has been building strength and continuing. Although sometimes a high RSI means something is overbought, sometimes it can signal strength. Every time the RSI and MACD spike, it ends up being a sign of building strength and momentum in MLM as marked by the blue vertical lines.
There was a bullish Golden Cross and with the infrastructure bill around the corner, MLM stands to be a huge beneficiary.
Fundamentally, they are reducing debt and increasing profit margins while beating on earnings 3 out of the last 4 times.
Short-term price target: $368-$375. Plus in the meantime, you'll collect a dividend.
Long-term price target: $420
There was a bullish Golden Cross and with the infrastructure bill around the corner, MLM stands to be a huge beneficiary.
Fundamentally, they are reducing debt and increasing profit margins while beating on earnings 3 out of the last 4 times.
Short-term price target: $368-$375. Plus in the meantime, you'll collect a dividend.
Long-term price target: $420
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