JEC pops to highest close since February 7th
Jacobs Engineering Group Inc. (JEC) Technical Analysis Report for May 17, 2018 | by Techniquant Editorial Team
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 Candlestick Chart (JEC as at May 17, 2018):
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.
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.
Though still in a long-term downtrend, the short and medium-term trends both turned bullish already.
Buying might speed up should prices move above the close-by swing high at 64.85 where further buy stops could get triggered.