Watch for Continued Gains in Shares of MasTec (MTZ)
Shares of MasTec (NYSE:MTZ) traded at a new 52-week high today of $35.22. This new high was reached on below average trading volume as 64,000 shares traded hands, while the average 30-day volume is approximately 531,000 shares.
Over the past year, MasTec has traded in a range of $12.86 to $35.22 and is now at $34.78, 170% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.4% while the 200-day MA has risen 1.3%.
MasTec, Inc. builds internal and external voice, video, data, Internet, and other computer and communications networks. The Company designs, installs, constructs, and maintains aerial, underground, and buried copper, coaxial, and fiber optic cable networks, as well as wireless antenna networks. Customers include telecommunications service providers and cable television operators.
MasTec (NYSE:MTZ) has potential upside of 1.5% based on a current price of $34.78 and analysts' consensus price target of $35.30. MasTec shares have support at the 50-day moving average (MA) of $32.10 and additional support at the 200-day MA of $27.58.
SmarTrend recommended that subscribers consider buying shares of MasTec on June 18th, 2013 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $32.94. Since that recommendation, shares of MasTec have risen 4.9%. We continue to monitor MTZ for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: 52 week high/lows mastec