Fri 21'st Apr 2017
Quanta Services Inc Stock Analysis
Technical stock analysis for Fri 21'st Apr 2017
Sell candidate since 2017-04-21
Quanta Services Inc lies in the middle of a weak falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -4.0% during the next 3 months and, with 90% probability hold a price between USD 31.87 and USD 35.91 at the end of this period.
There are few to none technical positive signals at the moment. Quanta Services Inc holds a buysignal from the short-term moving average; at the same time, however, a sales signal from the long-term average. Since the longterm average is above the short-term average there is a general salessignal in the stock. On further gains, the stock will meet resistance from the long-term moving average at USD 36.35. On a fall, the stock will find some support from the short-term average at USD 34.87. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sales signal and strengthen the general signal. A sales signal was issued from a pivot top point on Thursday April 20, 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 30 and the stock is currently not being overbought or oversold
Support & Resistance
Quanta Services Inc finds support from accumulated volume at USD 34.83, USD 34.77, and USD 34.16. On the upside the stock meets some resistance from accumulated volume at USD 37.41, USD 36.48 and USD 37.60.
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 USD 0.67 (1.93%) between high and low. For the last week, the stock has had a daily average volatility of 2.33%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
Quanta Services Inc holds several negative signals and is within a weak falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Sell Candidate.