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Uptrend ExhaustionArchive
- 12/13/2024 -
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Quanta Services Inc. (PWR) Technical Analysis
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| Summary:
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| | It was a first positive week for the Quanta Services Inc. (PWR). During the week, the PWR gained 5.13 points, or 1.54%, and closed at 337.60 on Friday, December 13, 2024. Weekly volume was 24% above average.
PWR is a member of Industrials Sector. Industrials is the 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 February 11, 2016 at 16.77 and reached 350.20 on November 26, 2024. PWR gained -333.43 points, or -1988.25%, in 458 weeks. The chart has formed a Rectangle chart pattern. The uptrend resistance line (37.30) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 long-term trend.
 Medium-term trend: [See PWR medium-term trend chart]
A medium-term uptrend had started on March 23, 2020 at 23.77 and reached 350.20 on November 26, 2024. PWR gained -326.43 points, or -1373.29%, in 244 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (196.17) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly 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.
The weekly MACD line is above its signal line since September 20, 2024. 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 November 26, 2024 at 350.20 and reached 320.99 on December 9, 2024. PWR lost 29.21 points, or 8.34%, in 13 days. The chart has formed a Broadening Descending Wedge chart pattern. The price is near the trend resistance line (340.00). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a short-term trend.
 Daily Technical Indicators: [See PWR daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since December 3, 2024. This is an indication that the short-term trend is down.
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.
 Candlestick pattern: [See PWR candlestick chart pattern]
On Friday the chart has formed a Bearish Deliberation Candlestick pattern. This pattern occurs in an uptrend;it appears after a sustained upward move and suggests that the rally is losing strength and a reversal is possible. The reliability of the Bearish Deliberation pattern is medium. Use the Technical Stock Screener to see the list of stocks that had a Bearish Deliberation Candlestick pattern during the last week.
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