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Possible Bearish Inside Day Candle Pattern Detected for Jacobs Engin Grp (NYSE:JEC)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Jacobs Engin Grp (NYSE:JEC) based on the price action in the company's shares. Yesterday's price range of $79.35 and $79.88 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Jacobs Engin Grp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Jacobs Engineering Group Inc. provides a broad range of technical, professional, and construction services to a large number of industrial, commercial, and governmental clients around the world. The Company offers interior, construction management, scientific research and testing, architecture, engineering, and operations and maintenance services.

Jacobs Engin Grp (NYSE:JEC) is currently priced 6.6% above its average consensus analyst price target of $74.36. The stock should find initial support at its 50-day moving average (MA) of $76.97 and further support at its 200-day MA of $71.48.

In the past 52 weeks, Jacobs Engin Grp share prices have been bracketed by a low of $55.17 and a high of $82.24 and closed yesterday at $79.63, 44% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.5%.

SmarTrend is monitoring the recent change of momentum in Jacobs Engin Grp. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Jacobs Engin Grp in search of a potential trend change.

Keywords: bearish am inside day candle jacobs engin grp

Ticker(s): JEC