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Since 2007, MasTec Inc. (MTZ-N21.150.020.09%) has traded within a large wedge formation consisting of lower highs and higher lows (dashed lines). The stock rallied to a high of $18.17 (U.S.) recently, to confirm the breakout from this pattern and the start of a new up-leg.

Technical indicators including the rising 40-week moving average and the MACD (lower panel) confirm the bullish status. The current return toward the 40wMA should provide a good entry point (B). Only a decline below $16-$17 would be negative.

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Don