Quanta Services Inc (PWR)
Quanta Services is an American corporation that provides infrastructure services for electric power, pipeline, industrial and communications industries. Capabilities include the planning, design, installation, program management, maintenance and repair of most types of network infrastructure.
Stock Price Trends
Stock price trends estimated using linear regression.
Key facts
- The primary trend is increasing.
- The growth rate of the primary trend is 36.46% per annum.
- PWR price at the close of July 26, 2024 was $256.73 and was inside the primary price channel.
- The secondary trend is increasing.
- The growth rate of the secondary trend is 115.07% per annum.
- PWR price at the close of July 26, 2024 was lower than the bottom border of the secondary price channel by $26.66 (9.41%). This indicates a possible reversal in the secondary trend direction.
Linear Regression Model
Model equation:
Yi = α + β × Xi + εi
Top border of price channel:
Exp(Yi) = Exp(a + b × Xi + 2 × s)
Bottom border of price channel:
Exp(Yi) = Exp(a + b × Xi – 2 × s)
where:
i - observation number
Yi - natural logarithm of PWR price
Xi - time index, 1 day interval
σ - standard deviation of εi
a - estimator of α
b - estimator of β
s - estimator of σ
Exp() - calculates the exponent of e
Primary Trend
Start date: January 6, 2021
End date: February 22, 2024
a = 3.9487
b = 0.0009
s = 0.0742
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0009) – 1
= 36.46%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0742) – 1
= 34.53%
January 6, 2021 calculations
Top border of price channel:
Exp(Y364)
= Exp(a + b × X364 + 2 × s)
= Exp(a + b × 527 + 2 × s)
= Exp(3.9487 + 0.0009 × 527 + 2 × 0.0742)
= Exp(4.5458)
= $94.24
Bottom border of price channel:
Exp(Y364)
= Exp(a + b × X364 – 2 × s)
= Exp(a + b × 527 – 2 × s)
= Exp(3.9487 + 0.0009 × 527 – 2 × 0.0742)
= Exp(4.2492)
= $70.05
February 22, 2024 calculations
Top border of price channel:
Exp(Y1,150)
= Exp(a + b × X1,150 + 2 × s)
= Exp(a + b × 1,669 + 2 × s)
= Exp(3.9487 + 0.0009 × 1,669 + 2 × 0.0742)
= Exp(5.5184)
= $249.24
Bottom border of price channel:
Exp(Y1,150)
= Exp(a + b × X1,150 – 2 × s)
= Exp(a + b × 1,669 – 2 × s)
= Exp(3.9487 + 0.0009 × 1,669 – 2 × 0.0742)
= Exp(5.2218)
= $185.27
Description
- The primary trend is increasing.
- The growth rate of the primary trend is 36.46% per annum.
- PWR price at the close of July 26, 2024 was $256.73 and was inside the primary price channel.
Secondary Trend
Start date: October 2, 2023
End date: June 24, 2024
a = 1.9134
b = 0.0021
s = 0.0467
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0021) – 1
= 115.07%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0467) – 1
= 20.55%
October 2, 2023 calculations
Top border of price channel:
Exp(Y1,052)
= Exp(a + b × X1,052 + 2 × s)
= Exp(a + b × 1,526 + 2 × s)
= Exp(1.9134 + 0.0021 × 1,526 + 2 × 0.0467)
= Exp(5.2085)
= $182.82
Bottom border of price channel:
Exp(Y1,052)
= Exp(a + b × X1,052 – 2 × s)
= Exp(a + b × 1,526 – 2 × s)
= Exp(1.9134 + 0.0021 × 1,526 – 2 × 0.0467)
= Exp(5.0216)
= $151.66
June 24, 2024 calculations
Top border of price channel:
Exp(Y1,234)
= Exp(a + b × X1,234 + 2 × s)
= Exp(a + b × 1,792 + 2 × s)
= Exp(1.9134 + 0.0021 × 1,792 + 2 × 0.0467)
= Exp(5.7666)
= $319.44
Bottom border of price channel:
Exp(Y1,234)
= Exp(a + b × X1,234 – 2 × s)
= Exp(a + b × 1,792 – 2 × s)
= Exp(1.9134 + 0.0021 × 1,792 – 2 × 0.0467)
= Exp(5.5797)
= $264.99
Description
- The secondary trend is increasing.
- The growth rate of the secondary trend is 115.07% per annum.
- PWR price at the close of July 26, 2024 was lower than the bottom border of the secondary price channel by $26.66 (9.41%). This indicates a possible reversal in the secondary trend direction.