Shares of Matrix Service Under Pressure, Down 1.6%

Published on Tue, 06/30/2015 - 12:02
By Peter Chu in Market movers, MTRX, market movers, matrix service, nasdaq:mtrx

One of today's notable stocks in decline is Matrix Service (NASDAQ:MTRX), down 1.8% to $18.09. The S&P is currently trading 0.3% higher to 2,064 and the Dow Jones Industrial Average is trading 0.2% higher to 17,637.

Matrix Service Company provides specialized on-site maintenance and construction services for petroleum refining and storage facilities, as well as water storage facilities for the private industry sector. The Company's services include the maintenance, inspection, design, repair, and construction of aboveground storage tanks.

Potential upside of 32.7% exists for Matrix Service, based on a current level of $18.09 and analysts' average consensus price target of $24.00. The stock should find initial resistance at its 50-day moving average (MA) of $19.41 and further resistance at its 200-day MA of $20.66.

Over the past year, Matrix Service has traded in a range of $12.52 to $38.71 and is now at $18.09, 44% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.1% while the 200-day MA has slid 0.4%.

By Peter Chu
pchu@fnno.com

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