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Watch for Quanta Services to Potentially Pullback After Gaining 1.34% Yesterday

By David Diaz

Quanta Services (NYSE:PWR) traded in a range yesterday that spanned from a low of $37.26 to a high of $37.90. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $37.77 on volume of 484,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Quanta Services has traded in a range of $16.77 to $38.82 and is now at $37.87, 126% above that low. The 200-day and 50-day moving averages have moved 0.44% lower and 1.70% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Quanta Services on February 29th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $20.17. Since that recommendation, shares of Quanta Services have risen 85.0%. We continue to monitor PWR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders Quanta Services

Ticker(s): PWR