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Stock Investors Sell Off Shares of Matrix Service, Down 1.8%

Published on Mon, 03/04/2013 - 13:30
By Robert Cotter

Matrix Service (NASDAQ:MTRX) is one of today's biggest movers, down 1.8% to $15.46. The S&P is currently trading 0.3% lower to 1,514 and the Dow Jones Industrial Average is trading 0.3% lower to 14,044.

Matrix Service has overhead space with shares priced $15.46, or 17.5% below the average consensus analyst price target of $18.75. The stock should discover initial support at its 50-day moving average (MA) of $13.83 and subsequent support at its 200-day MA of $11.58.

In the past 52 weeks, shares of Matrix Service have traded between a low of $7.34 and a high of $17.21 and are now at $15.46, which is 111% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.8% while the 50-day MA has advanced 3.2%.

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.

By Robert Cotter
rcotter@fnno.com

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