MasTec - Above Average Volume Detected

Published on Monday, 23 August 2010 11:43 Written by Christopher Lynn

New York, August 23rd (TradersHuddle.com) - Unusual high volume detected on shares of MasTec Inc. (NYSE:MTZ), early in the trading session. MasTec is currently trading higher by 0.15%, so definitely the buyers stepping in, as the stock's volume is already above average.

MasTec Inc. (NYSE:MTZ), is a specialty contractor operating across a range of industries. The Companys activities are the building, installation, maintenance and upgrade of utility and communications infrastructure, including electrical utility transmission and distribution, windfarms, solar farms, other renewable energy and natural gas infrastructure, wireless, and wireline.

MasTec has already traded 1.366 times its 3-month average volume, and has calculated support and resistance at $9.34 and $10.32 respectively. Traders like to use volume as their lie detector for price action moves through predefined trading ranges.

The overall market index S&P 500 is trading lower by -0.18% from its previous trading close, which means that MasTec stock is outperforming the overall market.