Fri 19'th Jan 2018
Quanta Services Inc Stock Analysis
Technical stock analysis for Fri 19'th Jan 2018
|Shorts||1.87% ( 2017-12-29 )|
|Loans||2 032.5 mill|
Quanta Services Inc lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 7.93% during the next 3 months and, with 90% probability hold a price between $40.43 and $43.99 at the end of this period.
Only positive signals in the chart today. Quanta Services Inc holds buy signals from both short- and long-term moving averages. In addition, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down there will be some support from the lines at $38.80 and $38.75. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday January 18, 2018, which indicates further gains until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and may be an early warning. The stock should be watched closely.
Relative Strength Index (RSI)
RSI14 is 47 and the stock is currently not being overbought or oversold
Support & Resistance
Quanta Services Inc finds support from accumulated volume at $38.80. On the upside the stock meets some resistance just above today's level from accumulated volume at $39.07, $39.17 and $39.40.
The stock is about to test the resistance from accumulated volume at $39.07 and this may cause the stock to take a minor break or get into a more sideways move for a few days.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $0.63 (1.64%) between high and low. For the last week, the stock has had a daily average volatility of 1.88%.
Our recommended stoploss: $36.94 (-5.26%) (This stock has low daily movements and this gives low risk. There is a buy signal from pivot bottom found 1 days ago.)
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Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for this stock to perform well in the short-term. We have upgraded our recommendation for this stock since last evaluation from a Sell Candidate to a Buy Candidate.
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