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Quanta Services Set to Possibly Pullback After Yesterday's Rally of 1.63%

By James Quinn

Quanta Services (NYSE:PWR) traded in a range yesterday that spanned from a low of $33.48 to a high of $34.62. Yesterday, the shares gained 1.6%, which took the trading range above the 3-day high of $33.66 on volume of 921,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Quanta Services share prices have moved between a 52-week high of $41.00 and a 52-week low of $27.90 and are now trading 23% above that low price at $34.21 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.4% while the 200-day MA has remained constant.

SmarTrend is monitoring the recent change of momentum in Quanta Services. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Quanta Services in search of a potential trend change.

Keywords: rebounders Quanta Services

Ticker(s): PWR