PWR is at the start of a significant breakout
Based on the preceding analysis in PWR, traders should determine that their account can handle increased risk from a new position. Also be sure that PWR is not too correlated with your existing position. Lastly, excellent traders always check how a new addition relates to not just their overall account, but the prevailing market action as well. For example, check the S&P 500. Is it trending up or down recently? Has it recently exceeded key resistance or support levels? Be sure to align your trading actions on PWR with the overall market so you are not swimming against the tide.
Currently the calculated sentiment levels, evaluated by Traders For Wealth, have shown an increasingly positive bias toward PWR. Also, the price action in PWR has been moving on up. This is a strong sign for a potential upside breakout. Traders should view this as a bullish trade and make sure it aligns with the overall market mood, and their current positions.
Quanta Services (PWR)
Quanta Services, Inc. is a provider of specialty contracting services, offering infrastructure solutions primarily to the electric power and oil and gas industries in the United States, Canada and Australia and selected other international markets. The Company operates through two segments: Electric Power Infrastructure Services, which provides network solutions to customers in the electric power industry, and Oil and Gas Infrastructure Services, which provides network solutions to customers involved in the development and transportation of natural gas, oil and other pipeline products. The services it provides include the design, installation, upgrade, repair and maintenance of infrastructure within each of the industries it serves, such as electric power transmission and distribution networks, substation facilities, renewable energy facilities, pipeline transmission and distribution systems and facilities, and infrastructure services for the offshore and inland water energy markets.