Tue 18'th Sep 2018
Matrix Service Company Stock Analysis
Technical stock analysis for Tue 18'th Sep 2018
|Shorts||2.13% ( 2018-08-31 )|
Matrix Service Company gained 0.20% in the last trading day, rising from $24.55 to $24.60 The price has risen in 8 of the last 10 days and is up by 18.27% over the past 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 82 more shares were traded than the day before. In total, 230 425 shares bought and sold for approximately $5.67 million.
Matrix Service Company lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 19.62% during the next 3 months and, with 90% probability hold a price between $24.34 and $30.96 at the end of this period.
Only positive signals in the chart today. Matrix Service Company holds buy signals from both short- and long-term moving averages. In addition, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down there will be some support from the lines at $23.74 and $21.22. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday September 17, 2018, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.
Relative Strength Index (RSI)
The stock holds a RSI14 at 75 and is currently being overbought on RSI. This does not have to be a sales signal as many stocks may go both long and hard while being overbought on the RSI. It is therefore important to evaluate the history of the share as it may tell you something about the RSI-sensitiveness.
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $20.25 and $20.15.
There is 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, Matrix Service Company finds support just below today's level at $20.25. If this is broken, then the next support from accumulated volume will be at $20.15 and $18.90.
This stock may move much during a day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.57 between high and low, or 2.35%. For the last week, the stock has had a daily average volatility of 6.73%.
Our recommended stoploss: $23.07 (-6.23%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 75 and this increases the risk substantially. There is a buy signal from pivot bottom found 1 days ago.)
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Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for this stock to perform well in the short-term.Click for Top 5 Buy Candidates
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