The Greedy Trader Weekly Analysis
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Archive
- 6/7/2019
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Quanta Services Inc.
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Summary:
Weekly :Overbought sectorBroken trend resistance line
Daily :Williams' Percentage Range and Lane's Stochastic are overboughtBearish Downside Tasuki Gap CandlestickDaily  MACD line has moved above its signal lineThe price has risen above the Parabolic SARThe price moved above the moving average in the center of the Bollinger Bands
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It was a first positive week for the Quanta Services Inc. (PWR). During the week, the PWR gained 2.54 points, or 7.31%, and closed at 37.30 on Friday, June 7, 2019. Weekly volume was 26% above average.

PWR is a member of Industrial Goods Sector. Industrial Goods is the second most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See PWR long-term trend chart]
A long-term uptrend had started on December 24, 2018 at 27.90 and reached 41.00 on May 1, 2019. PWR gained -13.10 points, or -46.95%, in 18 weeks. The price is now at the 28.24% retracement level.

Medium-term trend: [See PWR medium-term trend chart]
A medium-term downtrend had started on May 1, 2019 at 41.00 and reached 34.28 on May 23, 2019. PWR lost 6.72 points, or 16.39%, in 3 weeks. The chart has formed a Falling Pennant chart pattern. The downtrend resistance line (35.02) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. PWR may retest the broken resistance line. It is considered to be a support line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.

Weekly Technical Indicators: [See PWR weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since May 17, 2019. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.

Short-term trend: [See PWR short-term trend chart]
A short-term uptrend had started on May 23, 2019 at 34.28 and reached 37.48 on June 5, 2019. PWR gained -3.20 points, or -9.33%, in 13 days. The price is now at the 5.62% retracement level.

Daily Technical Indicators: [See PWR daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range and Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.

During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Candlestick pattern: [See PWR candlestick chart pattern]
On Friday the chart has formed a Bearish Downside Tasuki Gap Candlestick pattern. This is a rare continuation formation that appears in a strongly downward moving market. The reliability of the Bearish Downside Tasuki Gap pattern is medium. Use the Technical Stock Screener to see the list of stocks that had a Bearish Downside Tasuki Gap Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 68.09
Williams' Percentage Range (W%R) 18.30
Overbought
Lane's Stochastic (%D-Slow) 87.87
Overbought
Greed/Fear Indicator (GFI) 79.21
Moving Average Converg./Diverg. (MACD) -0.65
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 54.09
Williams' Percentage Range (W%R) 42.90
Lane's Stochastic (%D-Slow) 25.39
Greed/Fear Indicator (GFI) 44.66
Moving Average Converg./Diverg. (MACD) 1.07
Trading Signals
Description Value Chart
Upper Bollinger Band 38.26
50 Day Moving Average 37.94
Price 37.30
Daily Stochastic Crossing 37.25
20 Day Moving Average 35.73
Weekly Stochastic Crossing 35.48
Monthly Trendline Support 35.02
Parabolic System 35.02
Lower Bollinger Band 34.60
Monthly Trendline Resistance 34.30
Sector and Industry
Description Name Rank
Sector Industrial Goods 8
Industry General Contractors 69
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 34.65
Low Date 05/31/2019
High 37.48
High Date 06/05/2019
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 34.28
Low Date 05/23/2019
High 37.48
High Date 06/05/2019
Description Value
Direction Down
Chart Pattern Falling Pennant
Status Broken Resistance
Resistance 34.30
Support 35.02
High 41.00
High Date 05/01/2019
Low 34.28
Low Date 05/23/2019
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 27.90
Low Date 12/24/2018
High 41.00
High Date 05/01/2019
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 16.77
Low Date 02/11/2016
High 41.00
High Date 05/01/2019
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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