• Return to Headlines

Watch for Quanta Services to Potentially Pullback After Gaining 1.46% Yesterday

By Shiri Gupta

Quanta Services (NYSE:PWR) traded in a range yesterday that spanned from a low of $37.16 to a high of $37.45. Yesterday, the shares gained 1.5%, which took the trading range above the 3-day high of $36.88 on volume of 731,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend recommended that subscribers consider buying shares of Quanta Services on January 7th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $31.21. Since that recommendation, shares of Quanta Services have risen 18.3%. We continue to monitor PWR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

In the past 52 weeks, Quanta Services share prices have been bracketed by a low of $27.90 and a high of $37.45 and are now at $37.45, 34% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.5%.

Keywords: rebounders Quanta Services

Ticker(s): PWR