Quanta Services (PWR) — one of the largest providers of infrastructure services for the electric power, pipeline, and telecommunications industries — has been putting in some really clean technical structure on the daily chart, and right now it’s trading in a spot that demands attention.
Here’s what I’m looking at. Going back to the lows from early 2025, there’s an upsloping support trendline that has been connecting the major pivot lows over time. Every time price has pulled back into that level, buyers have stepped up. That’s the kind of trendline you respect until the chart tells you otherwise. On the flip side, there’s a separate upsloping resistance trendline connecting the major highs. Price tagged that upper end in the $580s earlier this year before pulling back to where we are now, around $549.
So what does that tell us? PWR isn’t breaking down. It’s pulling back inside a well-defined technical range, which is actually normal and healthy price behavior. The more interesting question is what happens next.
For the bulls, what you want to see is price hold above that upsloping support trendline on a daily closing basis. As long as that level continues to act as a floor, the setup favors another push higher. A confirmed close back above the mid-$560s with follow-through would be a solid sign that the trend is resuming.
Source: https://www.fxstreet.com/news/pwr-stock-is-sitting-between-two-major-trendlines-heres-what-to-watch-202603301355
