MasTec Inc (MTZ)
MasTec, Inc., an infrastructure construction company, provides engineering, construction, installation, maintenance, and upgrade services for communications, energy, utilities, and other infrastructure primarily in the United States and Canada. The company is headquartered in Coral Gables, Florida.
Stock Price Trends
Stock price trends estimated using linear regression.
Key facts
- The primary trend is increasing.
- The growth rate of the primary trend is 209.22% per annum.
- MTZ price at the close of July 25, 2024 was $104.98 and was lower than the bottom border of the primary price channel by $2.44 (2.27%). This indicates a possible reversal in the primary trend direction.
- The secondary trend is decreasing.
- The decline rate of the secondary trend is 14.49% per annum.
- MTZ price at the close of July 25, 2024 was inside the secondary price channel.
- The direction of the secondary trend is opposite to the direction of the primary trend. This indicates a possible reversal in the direction of the primary trend.
Linear Regression Model
Model equation:
Yi = α + β × Xi + εi
Top border of price channel:
Exp(Yi) = Exp(a + b × Xi + 2 × s)
Bottom border of price channel:
Exp(Yi) = Exp(a + b × Xi – 2 × s)
where:
i - observation number
Yi - natural logarithm of MTZ price
Xi - time index, 1 day interval
σ - standard deviation of εi
a - estimator of α
b - estimator of β
s - estimator of σ
Exp() - calculates the exponent of e
Primary Trend
Start date: October 24, 2023
End date: June 28, 2024
a = -0.8126
b = 0.0031
s = 0.0791
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0031) – 1
= 209.22%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0791) – 1
= 37.22%
October 24, 2023 calculations
Top border of price channel:
Exp(Y1,069)
= Exp(a + b × X1,069 + 2 × s)
= Exp(a + b × 1,551 + 2 × s)
= Exp(-0.8126 + 0.0031 × 1,551 + 2 × 0.0791)
= Exp(4.1426)
= $62.96
Bottom border of price channel:
Exp(Y1,069)
= Exp(a + b × X1,069 – 2 × s)
= Exp(a + b × 1,551 – 2 × s)
= Exp(-0.8126 + 0.0031 × 1,551 – 2 × 0.0791)
= Exp(3.8262)
= $45.89
June 28, 2024 calculations
Top border of price channel:
Exp(Y1,239)
= Exp(a + b × X1,239 + 2 × s)
= Exp(a + b × 1,799 + 2 × s)
= Exp(-0.8126 + 0.0031 × 1,799 + 2 × 0.0791)
= Exp(4.9096)
= $135.58
Bottom border of price channel:
Exp(Y1,239)
= Exp(a + b × X1,239 – 2 × s)
= Exp(a + b × 1,799 – 2 × s)
= Exp(-0.8126 + 0.0031 × 1,799 – 2 × 0.0791)
= Exp(4.5932)
= $98.81
Description
- The primary trend is increasing.
- The growth rate of the primary trend is 209.22% per annum.
- MTZ price at the close of July 25, 2024 was $104.98 and was lower than the bottom border of the primary price channel by $2.44 (2.27%). This indicates a possible reversal in the primary trend direction.
Secondary Trend
Start date: May 6, 2024
End date: July 25, 2024
a = 5.4412
b = -0.0004
s = 0.0255
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0004) – 1
= -14.49%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0255) – 1
= 10.76%
May 6, 2024 calculations
Top border of price channel:
Exp(Y1,202)
= Exp(a + b × X1,202 + 2 × s)
= Exp(a + b × 1,746 + 2 × s)
= Exp(5.4412 + -0.0004 × 1,746 + 2 × 0.0255)
= Exp(4.7435)
= $114.83
Bottom border of price channel:
Exp(Y1,202)
= Exp(a + b × X1,202 – 2 × s)
= Exp(a + b × 1,746 – 2 × s)
= Exp(5.4412 + -0.0004 × 1,746 – 2 × 0.0255)
= Exp(4.6413)
= $103.68
July 25, 2024 calculations
Top border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 + 2 × s)
= Exp(a + b × 1,826 + 2 × s)
= Exp(5.4412 + -0.0004 × 1,826 + 2 × 0.0255)
= Exp(4.7091)
= $110.96
Bottom border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(5.4412 + -0.0004 × 1,826 – 2 × 0.0255)
= Exp(4.6070)
= $100.18
Description
- The secondary trend is decreasing.
- The decline rate of the secondary trend is 14.49% per annum.
- MTZ price at the close of July 25, 2024 was inside the secondary price channel.