Mastec Inc (MTZ): Price Now Near $89.8; Daily Chart Shows Downtrend on 50 Day Basis

The Hourly View for MTZ

At the time of this writing, MTZ (Get Ratings)’s price is down $-0.32 (-0.36%) from the hour prior. MTZ has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

MTZ ranks 15th in terms of today’s price percentage change out of Construction stocks.

MTZ’s Technical Outlook on the Daily Chart

At the moment, MTZ’s price is up $1.18 (1.32%) from the day prior. It’s been a feast for bulls operating on the daily timeframe, as MTZ has now gone up 5 of the past 5 days. If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 100 day timeframe. Regarding moving averages, it should first be noted that price has crossed the 50 day moving average, resulting in them with price now being above it. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. The chart below shows MTZ’s price action over the past 90 days.