$PWR Potential Bullish & Bearish Case
Updated
PWRPWR Analysis Breakdown: 11JAN2023
Relevant News: Quanta just scored a new contract for huge construction and optic fiber placement in Colorado.
Financials: Looking at statement of Cash Flows we see Quanta is using reinvested operating income into company asset's last year to pay current debt and lower debt-equity ratio, still exited with 30+ million in cash flow change. With new contract and reinvested capital providing cushion for incoming recession/bear market, this will probably be the last bull rally for awhile (probably until June or July once Fed pivots hopefully start) until project in Colorado starts and they can start seeing positive amounts in accounts receivable.
Daily Chart - Earlier this week
PWR fell below strong support 141.68 PL (price level), on 05JAN2023 PWR bounces back from 134.41 PL establishing that PL as new support w/ good volume to confirm level. RSI shows momentum died 14DEC2022 where momentum bottomed out at -1.64 w/ MACD sell off dying out and buyers looking to enter market.4hr Chart - confirms bounce from 134.41 PL , MACD shows steady buyer entry fighting off remaining sellers.
2hr Chart - RSI showing new bullish momentum verified by bullish cross and chart shows buyer/seller fighting started in 06JAN2023 now buyers are pushing forward.
Summary and Consensus:
If tomorrow (12JAN2023)
PWR can confirm a break past 141.68 PL & MACD buyers enter while RSI momentum makes a bullish cross with confirmation on 2hr/4hr chart then PWR will enter 145 PL zone and hopefully create consolidation to verify new support. With a 1.13 beta rating on Darqube PWR will flow it's own trend closely and accurately. Current Change = +0.65%Note
Bearish Case: Sellers would have to retake fight by 18JAN2023 to solidify ceiling and break down past 137.41 PL with a confirmation candle.
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