MRC Global (MRC) Shares are Up 13%

MRC Global (MRC) : Traders are bullish on MRC Global (MRC) as it has outperformed the S&P 500 by a wide margin of 16.91% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 12.81%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 13% in the last 1 week, and is up 16.28% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.

The stock has recorded a 20-day Moving Average of 13.06% and the 50-Day Moving Average is 14.32%.The 200 Day SMA reached 24.18%


MRC Global (NYSE:MRC): After opening at $16.17, the stock dipped to an intraday low of $15.98 on Friday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $16.5 and the buying power remained strong till the end. The stock closed at $16.43 for the day, a gain of 2.30% for the day session. The total traded volume was 1,141,511. The stocks close on the previous trading day was $16.43.

MRC Global (MRC) : 6 Wall Street analysts covering MRC Global (MRC) believe that the average level the stock could reach for the short term is $16. The maximum price target given is $18 and the minimum target for short term is around $13, hence the standard deviation is calculated at $1.67.

MRC Global Inc. is a global industrial distributor of pipe, valves and fittings (PVF) and related products and services to the energy industry. The Company offers products that are used in the construction, maintenance, repair and overhaul of equipment used in extreme operating conditions, such as high pressure, high/low temperature and high corrosive and abrasive environments. Its product types include valves, automation and instrumentation, carbon steel fittings and flanges and stainless steel and alloy pipe and fittings, line pipe and oil country tubular goods, among others. The Company offers around 230,000 stock keeping units, including an array of PVF, oilfield supply, automation, instrumentation and other general and specialty industry supply products. The Company operates through its U.S., Canadian, and International segments. It has operations in over 400 service locations. It provides services, such as product testing, volume purchasing and warehousing, among others.

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