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Matrix Service(MTRX) provides construction and repair and maintenance services primarily to the energy and energy related industries. This stock is trading up 5% at $11.03 in recent trading.
Today's Volume: 90,000
Average Volume: 91,283
Volume % Change: 101%
>>5 Technical Trades Under $10
From a technical perspective, MTRX is gapping higher here and flirting with its 50-day moving average of $11.09 with decent volume. At last check, MTRX has hit an intraday high of $11.20 and volume is close to taking out its three-month average volume of 91,283 shares. This move is quickly pushing MTRX within range of triggering a major breakout trade. That trade will hit once MTRX takes out its 200-day at $11.43, and some more overhead resistance levels at $12 to $12.10 with high volume.
Traders should now look for long-biased trades in MTRX as long as its trending above its 50-day, and then once it sustains a move or close above $11.43 to $12.10 with volume that's near or above 91,283 shares. If that breakout triggers soon, then MTRX will have a great chance of re-testing or possibly taking out its next major overhead resistance level at $14.05.