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Construction & Engineering Industry Stocks Technical Analysis - JArchive
- 4/26/2024 -
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Jacobs Eng (J) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a first positive week after 3 consecutive negative weeks for the Jacobs Eng (J). During the week, the J climbed 1.08 points, or 0.75%, and closed at 144.91 on Friday, April 26, 2024. Weekly volume was -52% below average.
J is a member of Industrials Sector. Industrials is the second most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See J long-term trend chart]
A long-term uptrend had started on November 22, 2023 at 120.71 and reached 154.50 on March 28, 2024. J gained -33.79 points, or -27.99%, in 18 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 142.84 and resistance is at 161.01. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.
 Medium-term trend: [See J medium-term trend chart]
A medium-term downtrend had started on March 28, 2024 at 154.50 and reached 141.57 on April 17, 2024. J lost 12.93 points, or 8.37%, in 2 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (141.93) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.
 Weekly Technical Indicators: [See J weekly technical indicators chart]
Weekly technical indicators are neutral.
During the last week, weekly MACD line has moved below its signal line. Such crossover is considered a bearish signal. Use the following link to access a MACD help.
 Short-term trend: [See J short-term trend chart]
A short-term uptrend had started on April 17, 2024 at 141.57 and reached 145.61 on April 26, 2024. J gained -4.04 points, or -2.85%, in 9 days. The price is now at the 17.33% retracement level.
Daily Technical Indicators: [See J daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since March 28, 2024. The distance between MACD and the signal line is low and getting smaller.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
During the last week, the 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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