MASTECH. Long term ideaFundamental Analysis:
Stimated EPS for 2022 of 1,55. PER ratio average of 16x in last 5 years. Potential price in 2022 of 1,55*16 = 24,8$
TECHNICAL Analysis:
Head and shoulders pattern, price moving obove 200 moving average.
MHH trade ideas
MHH - Possible Bullish ScenarioFrom a fundamental viewpoint, Mastech Digital, Inc ( AMEX:MHH ) appears to be in great shape. In addition, when looking at a long term monthly chart, we have what appears to be a possible bullish flag scenario playing out. When we zoom in and look at the shorter term daily chart (shown), we see a clear downward trendline, acting as resistance, currently coming in at approx. ~$17.45 and falling. We also have big support coming in at an approximate range of ~$15.45 - 15.75. Should we see a break above the falling resistance line along with a daily close, I expect the bullish scenario to play out (shown in green). If it does, we will have buying entry points at both the breakout point and if we get the likely retest of the former resistance line (becoming support).
Should we break below support along with a daily close, I expect the bearish scenario to play out, where we continue grinding down within the downward channel. I expect this scenario to be less likely based on the long term pattern and fundamentals of the company, however we can't be certain either way.
Everything shared here is only my opinion and no results are guaranteed. Let's see how this one plays out. Good luck!
Mastech Digital on board Its moving averages of 63, 126 and 252 periods have been closing.
It has strong support around $ 15.
It has resistance around $ 20.
It comes closing a triangle (bullish).
The long-term trend remains bullish.
"Mastech Digital is a leading provider of Digital Transformation IT Services. The Company offers Data Management and Analytics Solutions, Digital Learning, and Remote IT Staffing Services with a Digital First approach. A minority-owned enterprise, Mastech Digital is headquartered in Pittsburgh, PA with offices across the U.S., Canada, Europe, Singapore, and India."
AMEX:MHH
MHH forming Star Step?ST
LLLH
Y1>Y2 + no power down
fibo hit down + hit up
LT
HHHL
Y1<Y2 + got power up
fibo hit up, no hit down
it should make reversal up soon
STAR STEP if W&R
TP @ 31.11
SL @ 15.17
Long over $22 - 3 Mln Float and aggressive Rev/EPS growthMastech Digital (MHH #2) is a leading provider of Digital Transformation IT Services. On its Data and Analytics Services segment, MHH sees this segment as having huge potential. The company has been seeing good traction for its expanded service offerings globally. In 2020, this segment's main goal is to broaden its geographical reach beyond North America into Asia, Europe and the Middle East. The plan is to expand its sales team and enlarge its delivery centers in both India and North America. With respect to its IT Staffing Services segment, MHH expects this segment to once again beat the average industry growth rate in 2020. MHH concedes it saw some impact from COVID-19 at the end of Q1 with an impact continuing into Q2. However, the stock has been climbing nicely higher as MHH is seen to be in a good position as it helps clients transform for a digital world.
