Thursday, April 13, 2017 12:05:16 PM
Many traders and investors are always talking about the story or press releases from a company. In fact, if you watch CNBC, Bloomberg or Fox Business News you will always hear why such and such a stock is going to move higher. There always seems to be a catalyst or story behind the coming move higher for the particular equity that is being touted. Rarely, will the talking head in the financial media talk about chart reading or technical analysis.
Lets take a look at a stock which has very good chart support coming up for a potential trade. The name of the company is Jacobs Engineering Group Inc (NYSE:JEC). This stock has been selling off since late January when it traded as high as $63.42 a share. Today, Jacobs Engineering Group Inc stock is trading at $53.48 a share. This is obviously a significant pullback in the share price of JEC stock. So where is the buy level for JEC stock since it has declined so much? Well, this is when we want to look at the weekly chart to see if the there is technical reason for a bounce higher or for the selling to stop. The first thing that traders should note on the weekly chart is that the 200-weekly moving average sits at $50.62 a share. This level also happens to coincide with the November 2016 breakout. Now this is what a technical chart reader would call institutional sponsorship. This trade level is where I would be a buyer of JEC stock. Now, patiently wait for the equity to trade down to the $50.62 area on the chart.
Institutional traders and investors will generally support stocks and markets at these prior breakout levels. This same technique can often be applied on multiple time-frames for day trading, swing trading and investing. Obviously, you will and should test this method first, but with some practice you will find this tactic to be extremely useful when trading all equities.
Chart: http://www.inthemoneystocks.com/images/JEC%204.13.17.png
Nicholas Santiago
InTheMoneyStocks
Recent J News
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 08/16/2024 03:17:01 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/06/2024 10:42:17 AM
- Jacobs Reports Fiscal Third Quarter 2024 Earnings • PR Newswire (US) • 08/06/2024 10:40:00 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/06/2024 10:38:45 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/05/2024 09:31:58 PM
- Jacobs Announced as Program Manager for California Hydrogen Hub • PR Newswire (US) • 08/01/2024 07:42:00 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 08/01/2024 06:14:50 PM
- Jacobs Expands Wastewater Program Management Role in Syracuse, New York • PR Newswire (US) • 07/30/2024 11:45:00 AM
- Jacobs Awarded FBI Information Technology Supplies and Support Services Contract • PR Newswire (US) • 07/24/2024 11:45:00 AM
- Vice Admiral Mary Jackson Named to Jacobs Board of Directors • PR Newswire (US) • 07/18/2024 07:25:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/17/2024 09:01:18 PM
- Jacobs Announces Filing of Form 10 Registration Statement for Planned Spin-Off of Critical Mission Solutions and Cyber & Intelligence Businesses and Merger with Amentum • PR Newswire (US) • 07/16/2024 09:36:00 PM
- Jacobs to Hold Its Fiscal Third Quarter 2024 Earnings Conference Call and Webcast • PR Newswire (US) • 07/15/2024 02:05:00 PM
- Jacobs Declares Quarterly Dividend • PR Newswire (US) • 07/11/2024 09:40:00 PM
- Jacobs Selected by Omaha Streetcar Authority for Transportation Project in Nebraska's Largest City • PR Newswire (US) • 07/11/2024 11:45:00 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/10/2024 09:33:33 PM
- Jacobs Supports Draft Strategic Plan for Ireland's Water Services • PR Newswire (US) • 07/10/2024 09:30:00 AM
- Jacobs Awarded Program Manager Owner Advisor Contract at King County South Treatment Plant in Washington State • PR Newswire (US) • 07/02/2024 11:45:00 AM
- Jacobs Selected to Support Delivery of $1.2B Expansion of FUJIFILM Diosynth Biotechnologies' Large-Scale Biologics Manufacturing Site • PR Newswire (US) • 06/27/2024 11:45:00 AM
- Jacobs to Provide Professional Engineering Services for New Kranji Water Reclamation Plant • PR Newswire (US) • 06/18/2024 12:25:00 AM
- Jacobs - VolkerStevin Joint Venture Appointed to UK's United Utilities Construction Delivery Partner Framework • PR Newswire (US) • 06/11/2024 10:30:00 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/05/2024 09:34:43 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/05/2024 09:31:49 PM
- Form 3 - Initial statement of beneficial ownership of securities • Edgar (US Regulatory) • 06/05/2024 09:30:28 PM
- Jacobs to Develop Data-driven Sewer Strategy for Omaha, Nebraska • PR Newswire (US) • 06/05/2024 11:45:00 AM
HealthLynked Corp. Announces Second Quarter and First Half 2024 Results: Continued Cost Reductions Set the Stage for Strategic Shift to App-Based Technology Services • HLYK • Aug 16, 2024 8:00 AM
PickleJar Announces Official Name Change and New Ticker Symbol • NREG • Aug 15, 2024 2:23 PM
VAYK's Q2 Profit Added to Accumulated Net Profit of Over $2.2 Million In 18 Months • VAYK • Aug 15, 2024 9:07 AM
Swifty Global Reports Strong Q2 Performance and Prepares for Major Exchange Uplisting • DRCR • Aug 15, 2024 9:04 AM
Mayback's Global Entertainment Signs Global Distribution Agreement with Children's Media Studio • AHRO • Aug 15, 2024 8:45 AM
POET Technologies Reports Second Quarter 2024 Financial Results • POET • Aug 15, 2024 8:04 AM