Quanta Services had a fantastic rally during 2016. It has since then consolidated and formed a full flag breakout pattern. 1/3 a position can be longed now in anticipation of a breakout. Should the price drop to the bottom of the flag range ($34), the remaining 2/3 position can be longed. Targeting the resistance level of $36.50 and hoping for a further...
There is formation of flag signal which has good "window" to move price higher.
Also we see that current longing trend had been forming on the base of trend reversal and recently price has broken 24.00 and 25.00 strong resistance levels and 22.50-24.00 price channel.
Recommendation is to buy.
Entry point 26.00 ( top flag's line breakout)
Stop-loss 24.00...
Nice look here. My guess is price will hit Gartley tgt, consolidate or put in a small retrace and continue on for the CRAB. Wait to play the CRAB after price takes out the 1.618 BC
