PWR breaking out
I started to get into PWR on Friday morning, as I noticed a potential break out. PWR started to break from its multi-month consolidation via the daily chart.
I would have liked to have gotten PWR when it was oversold and sitting on support, but the chart looks to want to trend upward. Also, the weekly chart is also signaling a breakout via the 50SMA, which acted as support previously.
I am a huge fan and believer that the power Grid needs a lot of upgrade before Alternative Energies become part of the grid, to handle the extra power. PWR should see the early benefits from the AE boom within the US.
