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Downtrend Broken Resist.Archive
- 4/19/2024 -
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Quanta Services Inc. (PWR) Technical Analysis
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| Summary:
| | Weekly :   | | Daily :
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| | It was the negative week for the Quanta Services Inc. (PWR). During the week, the PWR dropped -11.43 points, or -4.49%, and closed at 243.26 on Friday, April 19, 2024. It was the worst weekly loss since January 5, 2024. PWR was trading at average weekly trading volume.
PWR is a member of Industrials Sector. Industrials is the second most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See PWR long-term trend chart]
A long-term uptrend had started on February 11, 2016 at 16.77 and reached 265.82 on April 4, 2024. PWR gained -249.05 points, or -1485.09%, in 425 weeks. The chart has formed a Rectangle chart pattern. The uptrend resistance line (36.03) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
 Medium-term trend: [See PWR medium-term trend chart]
A medium-term uptrend had started on March 23, 2020 at 23.77 and reached 265.82 on April 4, 2024. PWR gained -242.05 points, or -1018.30%, in 210 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend resistance line (242.81). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a medium-term trend.
 Weekly Technical Indicators: [See PWR weekly technical indicators chart]
Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.
The weekly MACD line is above its signal line since December 8, 2023. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.
 Short-term trend: [See PWR short-term trend chart]
A short-term uptrend had started on January 23, 2024 at 187.27 and reached 265.82 on April 4, 2024. PWR gained -78.55 points, or -41.94%, in 72 days. The chart has formed a Rising Channel chart pattern. The uptrend support line (273.34) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. PWR may retest the broken support line. It is considered to be a resistance line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a short-term trend.
 Daily Technical Indicators: [See PWR daily technical indicators chart]
Daily Williams' Percentage Range is oversold while Lane's Stochastic is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Williams' Percentage Range or strongly oversold daily Lane's Stochastic. Use the following link to access Williams' Percentage Range help.
The daily MACD line is below its signal line since April 1, 2024. The distance between MACD and the signal line is relatively high and getting bigger.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
Price is close to the 50 Day Moving Average. While daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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