Quanta Services (PWR) looks bullish

Quanta Services (PWR): Bullish breakouts support upside to 487-504

PWR has two bullish breakouts: One from a late 2024 into mid 2025 bullish consolidation pattern and the other from a late July into early October bullish consolidation pattern. These pattern breakouts support further upside to 487 and 504.

Continuing to defend the rising 26- and 40-day moving averages near 437-423 would keep immediate pattern bullish. The 404.50-398.85 zone offers additional support if needed.

PWR has a bullish setup relative to the S&P 500, which corroborates the bullish absolute chart setup highlighted above.

Chart 1: Quanta Services (PWR) (top) and relative to the S&P 500 (bottom)