Bull Flag Forms in Midcap Industrial Near Recent Highs
Mastec (MTZ) shares are seeing a bullish MACD cross higher and closed strong +2.8% in a sluggish tape to start the new year as it looks ready to run above 140 for a breakout back to the 150 former high as a first target. MTZ has remained in a strong trend the past year after it the weekly chart broke out to new all-time highs back in September so longer term can still rally towards the 172 level which is a 1.618 fib extension. MTZ still has 1000 Jan $140 calls in open interest as well as 650 Jan $125 calls bought on 11/12.