Quanta Services Stock Is An Infrastructure Power Grid Play

On Aug 5, 2021, Quanta released its fiscal second-quarter 2021 results for the quarter ending June 2021. The Company reported an earnings-per-share (EPS) profit of $0.81 excluding non-recurring items versus $0.52 per share EPS is year ago same period. Revenues rose to $3 billion, up from $2.5 billion in the year-ago quarter. Adjusted diluted EPS was $1.06 compared to $0.74 in the year-ago period. Quanta Services CEO Duke Austin commented:

CEO Austin set the tone:

CEO Duke talked about the utilities:

CEO Duke continued:

Using the rifle charts on the weekly and daily time frames provide a precision view of the price action playing field for PWR stock. The weekly rifle chart exploded higher on earnings reaction as it peaked off the $117.21 Fibonacci (fib) level forming a weekly doji. The weekly 5-period moving average (MA) is rising at $105.78. The weekly market structure low (MSL) triggered on the breakout through $$93.14. The weekly upper Bollinger Bands (BBs) sit at $116.37. The weekly stochastic is rising through the 80-band. The daily rifle chart is uptrending with a rising 5-period MA that is starting to stall out at $115.45. The daily 15-period MA is rising at $106.57 and upper BBs sit at $124.30. The daily stochastic is attempting a high band mini pup. Prudent investors can watch for opportunistic pullback levels at the $108.72 fib, $104.29 fib, $100.40 fib, $97.06 fib, $93.87 fib, $89.28 fib, and the $85.90 fib. The upside trajectories range from the $122.79 fib up to the $137.64 price level.

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