MasTec, Inc. : Support and bullish trend
By Etienne Veber
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
US$30.96 | US$0 | US$29.26 | -100% |
The group enjoys upward revisions in earnings per share for 2014 and growth prospects. Indeed, the Thomson Reuters consensus expect sales to grow by more than 10% for the current year. Net income is also expected to increase by 40% at the end of the fiscal year.
Graphically, buyer flows are reduced. If the trend is now bearish in the short term, the support of USD 30.1 and the bullish trend-line should stop the selling movement.
Consequently, we expect a rebound in the nearest of USD 30.1. The most active investors can buy the share in this area and target a return toward USD 33. A stop loss can be placed under the USD 30.1 support.