Quanta Services: sellers dominate, price barely moves
Quanta Services slips 0.4% as sellers control 96% of volume
Quanta Services: sellers dominate, price barely moves
Our view last week
Quanta Services dropped 4.6% this week, the sharpest weekly decline in a month right after the sell-off looked to be easing: the sell signal is in its seventh week of management, with the short up more than 9%. Money flow is still in distribution, though lighter than the week before, and the daily chart shows a double bottom with a 10% intermediate rebound. Earnings are due in about two weeks.
This week's summary
On Quanta Services sellers were almost absolute this week - 96% of volume - yet the stock gave up just 0.4%, an odd mismatch that frames today's read. The sell signal has been under management for its seventh week, with the short up more than 9%. On the daily chart the double bottom holds, with an 8% intermediate rebound, and earnings land this very week. Quanta Services stock stays one to watch closely.
IQS Phase
72
in tension
Signal Strength
32
decline losing steam
Sizing
REDUCED
Ranking
#85 / 141
US stocks
Trade P&L %
+9.97%
from signal to today
Rank position
ranks 85th among the 141 sell signals for US stocks in our ranking, with a signal strength of 32 out of 100.
Sector context
SectorIndustrial
Benchmark ETFXLI
Sector regimein positive regime
Performanceweekly +1.81% · monthly +1.36%
PWR belongs to the industrial sector (reference ETF XLI). The sector is classified in positive regime according to our weekly reading.
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