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The MarketSmith Relative Strength scan finds Quanta Services (PWR) for the third day, amongst the top 20 candidates from last night’s scan. Last week Quanta Services was a top pick for a bullish follow-through into this week.
Top 20 MarketSmith Relative Strength Candidates
All of these candidates look bullish.
Quanta Services (PWR)
Quanta Services (PWR) is breaking out to fresh 52-week highs, confirming our observations before taking the position on Thursday, 3 trading days earlier. Relative strength persists.
Earnings and sales are persistent as well, growing for the past 6 years. Projections for 2021 are for a surge to ($4.19/sh) an increase of 19%.
Quanta Services Background
Quanta constructs and maintains everything from generating stations, substations, transmission lines of any size, and distribution lines. With companies around the globe and the most highly skilled and trained workforce in the industry, we deliver world-class execution on a local level.
In addition, the company provides comprehensive services across the pipeline and industrial sectors, including the construction of gathering systems and transmission pipelines with compressor stations along the way to major industrial users and residential gas distribution delivery.
With the implementation and rollout of 5G services, Quanta also provides engineering and design, program management, and full turnkey fiber installation capabilities, wireless and make ready services.
Infrastructure will likely be a major issue in the coming years, as updates to the electrical and communications grid are implemented. Quanta Services seems ready to execute and institutions are buying.
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Happy Trading,
Vinny
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