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Quanta Services is setting up nicely for a breakout.

By Mill Chart

Last update: Nov 23, 2021

Quanta Services (NYSE:PWR) was identified as a Technical Breakout Setup Pattern by our stockscreener. Such a pattern occurs when we see a pause in a strong uptrend: after a strong rise the stock is consolidating a bit and at some point the trend may be continued. Whether this actually happens can not be predicted of course, but it may be a good idea to keep and eye on NYSE:PWR.

PWR Daily chart on 2021-11-23

Technical analysis of NYSE:PWR

ChartMill assigns a Technical Rating to every stock. This score ranges from 0 to 10 and is updated daily. The score is determined by evaluating multiple technical indicators and properties.

We assign a technical rating of 10 out of 10 to PWR. Both in the recent history as in the last year, PWR has proven to be a steady performer, scoring decent points in every aspect analyzed.

  • Both the short term and long term trends are positive. This is a very positive sign.
  • When comparing the yearly performance of all stocks, we notice that PWR is one of the better performing stocks in the market, outperforming 90% of all stocks. We also observe that the gains produced by PWR over the past year are nicely spread over this period.
  • PWR is one of the better performing stocks in the Construction & Engineering industry, it outperforms 81% of 43 stocks in the same industry.
  • PWR is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
  • In the last month PWR has a been trading in the 110.80 - 124.69 range, which is quite wide. It is currently trading near the high of this range.

How do we evaluate the setup for NYSE:PWR?

Besides the Technical Rating, ChartMill also assign a Setup Rating to every stock. This setup score also ranges from 0 to 10 and determines to which extend the stock is consolidating. This is achieved by evaluating multiple short term technical indicators. NYSE:PWR currently has a 9 as setup rating:

PWR has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 121.28. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 118.65, a stop order could be placed below this zone. We notice that large players showed an interest for PWR in the last couple of days, which is a good sign.

How can NYSE:PWR be traded?

For a potential trade one would typically wait until the stock breaks out of the consolidation zone to enter the stock and it could be sold again for a loss when it would fall back below the zone.

This article should in no way be interpreted as trading advice. You should always make your own analysis and trade or not trade based on your own observations and style. The article is based purely on some technical observations.

Our Breakout analyzer lists more breakout setups and is updated daily.

QUANTA SERVICES INC

NYSE:PWR (7/14/2025, 8:04:00 PM)

After market: 387 0 (0%)

387

+3.22 (+0.84%)



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