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Re: MTZ
Anyone notice that I've been posting about Mastec Corporation over the past week or so. This stock attempted to break through resistance at $70/sh and has since retreated tremendously. It's been shot down roughly $2/day and currently stands on a bruised ankle around 57 1/8. MTZ was dropped from a long term buy to a hold sometime last week,and even though Jefferies & Co analysts upgraded the rating recommendation from accumulate to buy....the share price continues to tank. This stock transferred over from the NASDAQ to the NYSE on 2/14/97 and has since began trading options on both the AMEX and PHLX .
For those of you unaware, MasTec is one of the world's leading telecommunications and related infrastructure service providers, serving clients throughout the United States and in Spain, Latin America, and the Caribbean. The company employs over 7,000 people.
I realize most here do not trade stocks in this price range, however, I felt I'd bring it to your attention. I believe the share price will continue to decline well into the low 50's prior to making a reversal.....however I'm not a TA guy.....well, not in the business sense anyway.
Boi |
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