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Shares of Matrix Service Under Pressure, Down 1.6%

Published on Thu, 06/06/2013 - 12:32
By Mallory Stone

One of today's stocks on the move is Matrix Service (NASDAQ:MTRX), down 1.6% to $16.73. The Dow is down 0.6% to 14,874 and the S&P is currently down 0.4% to 1,602.

In the past 52 weeks, Matrix Service share prices have been bracketed by a low of $7.34 and a high of $17.93 and are now at $16.73, 128% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.7% while the 50-day MA has advanced 0.6%.

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.

Matrix Service (NASDAQ:MTRX) has potential upside of 16.6% based on a current price of $16.73 and analysts' consensus price target of $19.50. The stock should find initial support at its 50-day moving average (MA) of $15.53 and further support at its 200-day MA of $13.17.

By Mallory Stone
mstone@fnno.com

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