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Quanta Services (PWR) Approaches New Upside Target of $29.11

Published on Tue, 01/22/2013 - 10:42
By Mallory Stone

Shares of Quanta Services (NYSE:PWR) opened today above their pivot of $28.71 and have already reached the first level of resistance at $28.97. Investors may be interested in a cross of the next upside pivot targets of $29.11 and $29.51.

Quanta Services share prices have moved between a 52-week high of $29.21 and a 52-week low of $20.21 and are now trading 43% above that low price at $28.99 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.8% while the 50-day MA has advanced 1.1%.

Quanta Services, Inc. provides specialized contracting services to electric utilities, telecommunication and cable television operators, and governmental entities. The Company also installs transportation control and lighting systems and provides specialty electric power and communication services for industrial and commercial customers. Quanta performs projects across the United States.

Quanta Services (NYSE:PWR) has potential upside of 9.4% based on a current price of $28.99 and analysts' consensus price target of $31.72. The stock should discover initial support at its 50-day moving average (MA) of $26.82 and subsequent support at its 200-day MA of $24.24.

By Mallory Stone
mstone@fnno.com