Sell signal's sixth week, distribution deepening
Quanta Services slips 1.5% as capital flow deepens into distribution
Sell signal's sixth week, distribution deepening
Our view last week
Week 5 of the sell signal on Quanta Services, listed on the New York Stock Exchange, following the double bottom in the 646 area that had produced a 16% rebound. The week just closed turns lower again, down 2.8%, with sell volume at 75% and capital flow back in distribution after weeks of buying. Earnings are approaching, on July 30.
This week's summary
Money flow on Quanta Services is deepening into distribution and the weekly MACD keeps sliding further negative, even as the pace of decline eases on the surface: down 1.5% this week versus 2.8% the week before. The RSI keeps drifting lower and volume still tilts to sellers, though it's easing. The sell signal is in its sixth week and the short is already up more than 5%, with earnings coming into view on July 30.
IQS Phase
59
ordinary
Signal Strength
66
downtrend making lower lows, pace holding
Sizing
STANDARD
Ranking
#1 / 137
US stocks
Trade P&L %
+5.26%
from signal to today
restricted Platinum content