Buy Score Rank #3021 out of #5176
Wed 26'th Jul 2017
Quanta Services Inc Stock Analysis
Technical stock analysis for Wed 26'th Jul 2017
Hold candidate since 2017-07-25 Loss -1.17%
Quanta Services Inc is the upper part of a wide and horizontal trend and normally this would pose a good selling opportunity, but a break-up through the top trend line at $34.30 will give a strong buy signal and a trend shift may be expected. Given the current horizontal trend you can expect Quanta Services Inc with 90% probability to be traded between $29.90 and $33.80 at the end of this period with 90% probability. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the roof. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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 $33.40 and $32.74. A break down below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sales signal was issued from a pivot top point on Tuesday July 25, 2017, which indicates further falls until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Relative Strength Index (RSI)
RSI14 is 59 and the stock is currently not being overbought or oversold
Support & Resistance
Quanta Services Inc finds support from accumulated volume at . On the upside the stock meets some resistance just above today's level from accumulated volume at $34.51, $35.05 and $34.97.
The stock is about to test the resistance from accumulated volume at $34.51 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 $1.40 (4.32%) between high and low. For the last week, the stock has had a daily average volatility of 2.55%.
Our recommended stoploss: $32.25 (-4.50%) (This stock has low daily movements and this gives low risk. There is a sell signal from pivot top found 1 days ago.)
Quanta Services Inc holds several positive signals, but we still don't find these to be enough for a buy-recommendation. At the current level we recommend to hold or accumulate in this position whilst awaiting for further development. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Buy Candidate to a Hold/Accumulate.
Your capital is at risk.