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AI Analysis of MTZ
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MasTec Inc stock price down 2.17% on Wednesday
(Updated on Apr 17, 2024)

Sell candidate since Apr 15, 2024 Loss -2.18% PDF

The MasTec Inc stock price fell by -2.17% on the last day (Wednesday, 17th Apr 2024) from $84.66 to $82.82. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 3.84% from a day low at $82.50 to a day high of $85.67. The price has fallen in 7 of the last 10 days and is down by -12.83% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -325 thousand shares and in total, 574 thousand shares were bought and sold for approximately $47.53 million.

Given the current short-term trend, the stock is expected to rise 47.80% during the next 3 months and, with a 90% probability hold a price between $122.41 and $148.15 at the end of this 3-month period.

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MTZ Signals & Forecast

There are few to no technical positive signals at the moment. The MasTec Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $87.89 and $88.57. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 03, 2024, and so far it has fallen -12.83%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss for MasTec Inc stock

On the downside, the stock finds support just below today's level from accumulated volume at $64.69 and $64.66. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, MasTec Inc finds support just below today's level at $64.69. If this is broken, then the next support from accumulated volume will be at $64.66 and $63.16.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $3.17 between high and low, or 3.84%. For the last week, the stock has had daily average volatility of 4.37%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (MTZ) For The Upcoming Trading Day Of Thursday 18th

For the upcoming trading day on Thursday, 18th we expect MasTec Inc to open at $83.66, and during the day (based on 14 day Average True Range), to move between $79.62 and $86.02, which gives a possible trading interval of +/-$3.20 (+/-3.87%) up or down from last closing price. If MasTec Inc takes out the full calculated possible swing range there will be an estimated 7.74% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $84.85 (2.45%) than the support at $64.69 (21.89%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is MasTec Inc stock A Buy?

The MasTec Inc stock holds several negative signals and despite the positive trend, we believe MasTec Inc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -1.131 Sell Candidate Unchanged

Predicted Opening Price for MasTec Inc of Thursday, April 18, 2024

Fair opening price April 18, 2024 Current price
$83.66 ( 1.02%) $82.82

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for MTZ

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 86.83 4.85 %
R2 85.62 3.38 %
R1 84.87 2.48 %
Current price: 82.82
Support S1 82.45 -0.444 %
S2 81.70 -1.35 %
S3 80.49 -2.81 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 88.62 7.00 %
R2 87.68 5.87 %
R1 84.85 2.45 %
Current price 82.82
Support S1 64.69 -21.89%
S2 64.66 -21.93%
S3 63.16 -23.74%

MTZ Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 Aug 04, 1982 Aug 04, 1982 Aug 04, 1982 $0.200 4.24%

FAQ

What is the symbol for MasTec Inc Stock and on which exchange is it traded?
The symbol for MasTec Inc is MTZ and it is traded on the NYSE (New York Stock Exchange).

Should I buy or sell MasTec Inc Stock?
The MasTec Inc stock holds several negative signals and despite the positive trend, we believe MasTec Inc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

How to buy MasTec Inc Stock?
MasTec Inc Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy MasTec Inc Stock.

What's the current price of MasTec Inc Stock?
As of the end of day on the 2024-04-17, the price of an MasTec Inc (MTZ) share was $82.82.

What is the 52-week high and low for MasTec Inc Stock?
The 52-week high for MasTec Inc Stock is $123.33 and the 52-week low is $44.65.

What is the market capitalization of MasTec Inc Stock?
As of the 2024-04-17, the market capitalization of MasTec Inc is 6.566B.

When is the next earnings date for MasTec Inc?
The upcoming earnings date for MasTec Inc is May 02, 2024.
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About MasTec Inc

MasTec MasTec, Inc., an infrastructure construction company, provides engineering, building, installation, maintenance, and upgrade services for communications, energy, utility, and other infrastructure primarily in the United States and Canada. It operates through Communications, Clean Energy and Infrastructure, Oil and Gas, Power Delivery, and Other segments. The company builds underground and overhead distribution systems, including trenches, conduit... MTZ Profile

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