Quanta Services Inc Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Evaluation of Quanta Services Inc stock downgraded after the last trading session.
(Updated on Apr 25, 2024)
The Quanta Services Inc stock price gained 0.794% on the last trading day (Thursday, 25th Apr 2024), rising from $253.18 to $255.19. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 3.44% from a day low at $247.74 to a day high of $256.26. The price has fallen in 6 of the last 10 days and is down by -1.09% for this period. Volume fell on the last day by -399 thousand shares and in total, 591 thousand shares were bought and sold for approximately $150.71 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and strong 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 29.27% during the next 3 months and, with a 90% probability hold a price between $319.70 and $358.57 at the end of this 3-month period.
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PWR Signals & Forecast
The Quanta Services Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $248.68 and $251.53. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -3.04%. 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).
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 $197.25.
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 $8.52 (3.44%) between high and low. For the last week, the stock has had daily average volatility of 2.67%.
Our recommended stop-loss: $244.82 (-4.07%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 14 days ago.)
Trading Expectations (PWR) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Quanta Services Inc to open at $253.06, and during the day (based on 14 day Average True Range), to move between $248.83 and $261.55, which gives a possible trading interval of +/-$6.36 (+/-2.49%) up or down from last closing price. If Quanta Services Inc takes out the full calculated possible swing range there will be an estimated 4.99% 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 (0.43%) than the support at $234.39 (8.15%), 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.
Earnings coming up
Quanta Services Inc will release earnings BMO on Thursday, May 02, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.26. We will update the financials statements for Quanta Services Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.17% in the first trading day after earnings release.
Is Quanta Services Inc stock A Buy?
Quanta Services Inc holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.464 Hold/Accumulate Downgraded
Predicted Opening Price for Quanta Services Inc of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $253.06 ( 0.83%) | $255.19 |
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 | 261.58 | 2.51 % | |
| R2 | 258.33 | 1.23 % | ||
| R1 | 256.32 | 0.442 % | ||
| Current price: | 255.19 | |||
| Support | S1 | 249.81 | -2.11 % | |
| S2 | 247.80 | -2.90 % | ||
| S3 | 244.54 | -4.17 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 259.18 | 1.56 % | |
| R2 | 256.40 | 0.474 % | ||
| R1 | 256.30 | 0.435 % | ||
| Current price | 255.19 | |||
| Support | S1 | 234.39 | -8.15% | |
| S2 | 232.93 | -8.72% | ||
| S3 | 197.25 | -22.70% |
PWR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 28, 2024 | Apr 08, 2024 | Apr 17, 2024 | $0.0900 | 0.0366% |
| 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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