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Bearish Moving Average Cross by MasTec (MTZ)

By James Quinn

Today, shares of MasTec (NYSE:MTZ) have crossed bearishly below their 10-day moving average of $44.36 on a volume of 191K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, MasTec share prices have been bracketed by a low of $12.44 and a high of $47.90 and are now at $44.00, 254% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 3.2% while the 200-day MA has risen 0.5%.

SmarTrend recommended that subscribers consider buying shares of MasTec on January 24th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $38.78. Since that recommendation, shares of MasTec have risen 15.8%. We continue to monitor MTZ for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses mastec

Ticker(s): MTZ