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Archive
- 4/5/2024 -
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Jacobs Eng (J) Technical Analysis
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| Summary:
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| | It was the negative week for the Jacobs Eng (J). During the week, the J dropped -5.81 points, or -3.78%, and closed at 147.92 on Friday, April 5, 2024. It was the worst weekly loss since November 24, 2023. Weekly volume was -10% 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 154.50 on March 28, 2024. J gained -47.72 points, or -44.69%, in 76 weeks. The price is now at the 13.79% 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 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 136.39 and resistance is at 156.13. 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 Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range and Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. 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 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 28, 2024 at 154.50 and reached 147.81 on April 5, 2024. J lost 6.69 points, or 4.33%, in 8 days. Price is near the trend low.
 Daily Technical Indicators: [See J daily technical indicators chart]
Daily Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Lane's Stochastic.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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 price has declined below the moving average in the center of the Bollinger Bands. 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.
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