MasTec Technical Analysis (NYSE:MTZ)
Technical analysis relies on the belief that future price movements of a stock can be forecasted through the study of historical market data and technical charts. Just by looking at the MasTec stock price one can't take a trading decision. A trader needs to find a chart pattern, which is a clear cut pattern formation on the MTZ stock chart which creates a trading signal.
See MasTec bollinger bands, SMA - 200 day moving average, 50 day moving average and exponential moving averages. Technical analysis uses an approach for MasTec stock analysis that does not care for the fair value of a company but uses price and volume data only.
MasTec Moving Average
Moving averages show the MTZ stock price trend. The two most popular types of moving averages are the Simple Moving Average or SMA and the Exponential Moving Average or EMA. A key factor that impacts moving averages is the lag factor. The 20 day moving average of $50.03 is above the price of $45.2.
MasTec Bollinger Bands
Bollinger Bands were developed by the famous technical trader John Bollinger and are a measure of the volatility of a stock like the MTZ stock. The stock price is trading between the average and the lower band in the context of MasTec bollinger bands.
MasTec Moving Average Convergence Divergence or MACD
Two important concepts with respect to moving average convergence divergence or MACD are: crossovers and divergence. When the MACD rises above the signal line, it typically indicates a bullish trend and most likely the stock prices will go up. The MasTec MACD line is below the signal line.
MasTec Relative Strength Index
The relative strength index compares the magnitude of recent gains to recent losses and is a momentum indicator. It attempts to assess overbought and oversold conditions of a stock. If the RSI of MTZ stock goes above 70 it could indicate an overbought condition, and if it goes below 30 it could signal an oversold position.