Quanta Services Inc Stock Forecast
Red day on Tuesday for Quanta Services Inc
(Updated on Apr 16, 2024)
The Quanta Services Inc stock price fell by -0.0804% on the last day (Tuesday, 16th Apr 2024) from $248.89 to $248.69. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 1.95% from a day low at $245.30 to a day high of $250.08. The price has fallen in 7 of the last 10 days and is down by -2.89% for this period. Volume has increased on the last day by 63 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 716 thousand shares were bought and sold for approximately $178.08 million.
Given the current short-term trend, the stock is expected to rise 38.33% during the next 3 months and, with a 90% probability hold a price between $344.00 and $375.83 at the end of this 3-month period.
PWR Signals & Forecast
There are few to no technical positive signals at the moment. The Quanta Services Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $254.75 and $249.95. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -5.51%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Quanta Services Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $234.39 and $232.93. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Quanta Services Inc finds support just below today's level at $234.39. If this is broken, then the next support from accumulated volume will be at $232.93 and $195.56.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $4.78 (1.95%) between high and low. For the last week, the stock has had daily average volatility of 2.82%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PWR) For The Upcoming Trading Day Of Wednesday 17th
For the upcoming trading day on Wednesday, 17th we expect Quanta Services Inc to open at $248.02, and during the day (based on 14 day Average True Range), to move between $242.75 and $254.63, which gives a possible trading interval of +/-$5.94 (+/-2.39%) up or down from last closing price. If Quanta Services Inc takes out the full calculated possible swing range there will be an estimated 4.78% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $256.30 (3.06%) than the support at $234.39 (5.75%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Quanta Services Inc stock A Buy?
The Quanta Services Inc stock holds several negative signals and despite the positive trend, we believe Quanta Services Inc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -4.473 Sell Candidate Unchanged
Predicted Opening Price for Quanta Services Inc of Wednesday, April 17, 2024
| Fair opening price April 17, 2024 | Current price |
|---|---|
| $248.02 ( 0.268%) | $248.69 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PWR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 252.80 | 1.65 % | |
| R2 | 250.98 | 0.92 % | ||
| R1 | 249.85 | 0.466 % | ||
| Current price: | 248.69 | |||
| Support | S1 | 246.20 | -1.00 % | |
| S2 | 245.07 | -1.46 % | ||
| S3 | 243.24 | -2.19 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 259.18 | 4.22 % | |
| R2 | 256.40 | 3.10 % | ||
| R1 | 256.30 | 3.06 % | ||
| Current price | 248.69 | |||
| Support | S1 | 234.39 | -5.75% | |
| S2 | 232.93 | -6.34% | ||
| S3 | 195.56 | -21.36% |
PWR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 28, 2024 | Apr 08, 2024 | Apr 17, 2024 | $0.0900 | 0.0362% |
| 2 | Dec 06, 2023 | Dec 29, 2023 | Jan 12, 2024 | $0.0900 | 0.0445% |
| 3 | Aug 31, 2023 | Sep 29, 2023 | Oct 13, 2023 | $0.0800 | 0.0461% |
| 4 | May 24, 2023 | Jun 30, 2023 | Jul 14, 2023 | $0.0800 | 0.0408% |
| 5 | Mar 30, 2023 | Apr 06, 2023 | Apr 18, 2023 | $0.0800 | 0.0477% |
FAQ
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