The Greedy Trader Weekly Analysis
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- 3/15/2024 -
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Jacobs Eng (J) Technical Analysis

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Summary:
Weekly :Overbought sectorRelative Strength Index and Williams' Percentage Range are overboughtLane's Stochastic is strongly overbought
Daily :The Bollinger Bands are historically close together
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It was a second consecutive positive week for the Jacobs Eng (J). During the week, the J gained 2.04 points, or 1.39%, and closed at 148.97 on Friday, March 15, 2024. Weekly volume was -31% below average.

J is a member of Industrials Sector. Industrials is the 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 October 13, 2022 at 106.78 and reached 151.72 on March 13, 2024. J gained -44.94 points, or -42.09%, in 73 weeks. The price is now at the 6.12% retracement level.

Medium-term trend: [See J medium-term trend chart]
A medium-term uptrend had started on November 22, 2023 at 120.71 and reached 151.72 on March 13, 2024. J gained -31.01 points, or -25.69%, in 16 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 127.54 and resistance is at 152.01. 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 medium-term trend.

Weekly Technical Indicators: [See J weekly technical indicators chart]
Weekly Relative Strength Index and Williams' Percentage Range are overbought while Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index and Williams' Percentage Range or strongly overbought weekly Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is above its signal line since January 26, 2024. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See J short-term trend chart]
A short-term downtrend had started on March 13, 2024 at 151.72 and reached 147.81 on March 14, 2024. J lost 3.91 points, or 2.58%, in 1 days. The price is now at the 29.67% 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 February 23, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.

The distance between the Bollinger Bands (3.76%) is close to one year low (3.45%). It is 52.25% lower than one year average. It indicates the period of low volatility of the stock price, and it is considered a buy signal for the option traders. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 61.11
Williams' Percentage Range (W%R) 39.20
Lane's Stochastic (%D-Slow) 69.55
Greed/Fear Indicator (GFI) 63.81
Moving Average Converg./Diverg. (MACD) 2.49
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 81.81
Overbought
Williams' Percentage Range (W%R) 10.20
Overbought
Lane's Stochastic (%D-Slow) 91.40
Strong Overbought
Greed/Fear Indicator (GFI) 82.22
Overbought
Moving Average Converg./Diverg. (MACD) 3.27
Trading Signals
Description Value Chart
Monthly Trendline Resistance 152.01
Daily Stochastic Crossing 150.09
Weekly Stochastic Crossing 149.68
Upper Bollinger Band 149.53
Price 148.97
20 Day Moving Average 147.37
Parabolic System 147.27
Lower Bollinger Band 143.95
50 Day Moving Average 140.70
Monthly Trendline Support 127.54
Sector and Industry
Description Name Rank
Sector Industrials 12
Industry Construction & Engineering 118
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 151.72
High Date 03/13/2024
Low 147.81
Low Date 03/14/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 125.88
Low Date 01/08/2024
High 151.72
High Date 03/13/2024
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 152.01
Support 127.54
Low 120.71
Low Date 11/22/2023
High 151.72
High Date 03/13/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 106.78
Low Date 10/13/2022
High 151.72
High Date 03/13/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 150.32
High Date 04/21/2022
Low 106.78
Low Date 10/13/2022
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.