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Watch for Continued Gains in Shares of MasTec (MTZ)

By Shiri Gupta

MasTec (NYSE:MTZ) traded at a new 52-week high today of $38.47. This new high was reached on approximately average trading volume as 691,000 shares traded hands, while the average 30-day volume is approximately 801,000 shares.

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.

Potential upside of 5.1% exists for MasTec, based on a current level of $37.92 and analysts' average consensus price target of $39.86. MasTec shares have support at the 50-day moving average (MA) of $33.99 and additional support at the 200-day MA of $32.59.

MasTec share prices have moved between a 52-week high of $38.47 and a 52-week low of $26.27 and are now trading 44% above that low price at $37.92 per share. The 200-day and 50-day moving averages have moved 0.31% higher and 0.91% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of MasTec on December 31st, 2013 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $32.47. Since that recommendation, shares of MasTec have risen 15.1%. 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

Ticker(s): MTZ