JEC pops to highest close since February 7th


Jacobs Engineering Group (JEC) Technical Analysis Report for May 17, 2018 [< 1 min read]
Highlights
JEC closes higher for the 2nd day in a row
JEC ends the day on a bullish note closing near the high of the day
JEC runs into sellers again around 64.06
JEC pushes through previous session high
JEC rises to highest close since February 7th
TQ Sentiment
Report Sentiment: 33% Bullish
Technical Forecast:
Overview

Moving higher for the 2nd day in a row, JEC finished Thursday at 63.96 gaining $0.48 (0.76%). Today's closing price of 63.96 marks the highest close since February 7th. Closing above Wednesday's high at 63.85, Jacobs Engineering confirms its breakout through the previous session's high having traded $0.21 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily chart for JEC
Volatility

Thursday's trading range was $1.20 (1.9%), that's slightly below last trading month's daily average range of $1.30. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being way above average.

Support/Resistance

After having been unable to move above 63.85 in the prior session, the share ran into sellers again around the same price level today, failing to move higher than 64.06.

Trend

Though still in a long-term downtrend, the short and medium-term trends both turned bullish already.

Order Flow

Buying might speed up should prices move above the close-by swing high at 64.85 where further buy stops could get triggered.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.

Market Conditions for Jacobs Engineering Group
ConditionForecastDirectionWinAvgWorstBestEvents
Close near high of period TQ Pro Members Only
White Candle TQ Pro Members Only
2 Consecutive Higher Closes TQ Pro Members Only
Last Engulfing Top Pattern TQ Pro Members Only
Close to Swing High TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

JEC finds buyers at key support level

Jul 13, 2018
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