As you can see on the chart above, Matrix Service Company (NASDAQ: MTRX), a company that provides maintenance and construction services for petroleum refining and storage facilities, just had a bearish wedge breakdown.
My team of traders point out that wedges are reversal patterns that motion a trend change within a narrowing range.
This bearish technical signal indicates the company’s share price may decline up to 10% over the near-term.
My team says to consider going short on MTRX today.
© Chart courtesy of Today’s Profits. All rights reserved.
