Mastec broke through all time high at the beginning of the year. Typically after every breakout, there should be a retracement.
None for Mastec! What happened instead was price continue to go higher by the week. The current pattern is an upsloping flag pattern, and it usually signify significant up move.
Target profit 1 is a huge $23/ 44% within the next 3 months!
There's no target profit 2 because no move last forever. It's bound to have a pullback, and we will evaluate again when this move is said and done.
Feel free to comment below if you want me to analyze any symbol!
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New all time high today! Broad market faced selloff yesterday but MTZ wasn't affected that much. Seems to suggest momentum is really going to be strong in the upcoming days and weeks!
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(Disclaimer: not giving any trading & investment advise. Just sharing views)
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If the week closes below $84, then this setup is considered invalidated
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Well well! onwards and upwards for MTZ!
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Setup very much still intact! New ATH! Fantastic!
Trade closed manually
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It did breakout but unfortunately it didn't reach our target profit. Not liking the bearish engulfing pattern on the Weekly chart.