Chart of the Week: Quanta Services
Good morning everybody. Happy Wednesday. It’s time for our chart of the week, and this week we’re gonna be focused in on power company Quanta Power – Quanta Services. PWR is the symbol on this one. Let’s take a look at this chart. It’s been very strong for the past couple of months.
Since a little bit of a nosedive here from the beginning of December to the start of the year, and you can see that the stock made a nice bottom here – it double bottomed – roughly double-bottomed here at around the $400-410 level. And then it turned around and is making a nice series of higher highs and higher lows, right? That’s our textbook definition of an uptrend.
Just recently hit all time highs at about $637. That’s a huge move this stock’s made since the early part of 2026 when it was about, again, $410. It’s up roughly 50% – a little more than 53% actually to this date.
Why are we getting into this now? Because the indicators are still bullish, and we go with what the indicators tell us.
Relative strength is making higher highs, higher lows. It’s a little bit overbought right now, so it could just kind of go sideways for a period of time here before making a move right back up again in a matter of weeks.
MACD is strong, it’s been in a buy signal for about 3 1/2 weeks.
But check out at the bottom here this on-balance volume – higher highs, higher lows. It just tells us that on the up days, there’s much more volume than on the down day, especially when this thing is stretching higher on a regular basis.
Certainly for the past 3 1/2 weeks since we started the month of April, the stock has been making higher highs and higher lows. Once it gapped away in the early part of April, it’s been up just about every single day that the market has been up too.
So good relative strength here as we noted up here, and again we’re overbought. So we wouldn’t be surprised to see a little bit of a pullback here, maybe to the $610 level, maybe $605. But we would like to hold this range here that the stock’s been in for the past few days.
If it does go sideways for a little bit, it might be worthy of a nice option play to the upside – maybe the $650 calls or something like that.
So take a look at Power – PWR – Quanta Services. It’s a good one. It’s been a strong name for a while.
Again, it’s in the area where these AI and data centers need some extra power; Quanta is one of the companies that provides it.
So check out PWR. Thanks so much for watching everyone, and I”ll see you guys next time.
