- 6/26/2020 -
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Quanta Services Inc. (PWR)
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|It was the negative week for the Quanta Services Inc. (PWR). During the week, the PWR gave back -0.07 points, or -0.18%, and closed at 38.64 on Friday, June 26, 2020. Weekly volume was -43% below average. |
PWR is a member of Industrials Sector. Industrials 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 44.09 on November 5, 2019. PWR gained -16.19 points, or -58.03%, in 45 weeks. The price is now at the 33.66% retracement level.
Medium-term trend: [See PWR medium-term trend chart]
A medium-term uptrend had started on March 23, 2020 at 23.77 and reached 43.51 on June 8, 2020. PWR gained -19.74 points, or -83.05%, in 11 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 32.72 and resistance is at 46.29. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend.
Weekly Technical Indicators: [See PWR weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since May 22, 2020. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.
Short-term trend: [See PWR short-term trend chart]
A short-term downtrend had started on June 8, 2020 at 43.51 and reached 35.36 on June 15, 2020. PWR lost 8.15 points, or 18.73%, in 7 days. The chart has formed a Symmetric Triangle chart pattern.
Daily Technical Indicators: [See PWR daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since June 11, 2020. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.
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.