After Yesterday's Rally of 4.46% Shares Could Potentially Pullback
Jacobs Engineering Group (NYSE:JEC) traded in a range yesterday that spanned from a low of $53.53 to a high of $55.89. Yesterday, the shares gained 4.5%, which took the trading range above the 3-day high of $54.38 on volume of 576,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
Jacobs Engineering Group share prices have moved between a 52-week high of $55.89 and a 52-week low of $34.76 and are now trading 60% above that low price at $55.76 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 1.3%.
SmarTrend recommended that subscribers consider buying shares of Jacobs Engineering Group on July 8th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $50.83. Since that recommendation, shares of Jacobs Engineering Group have risen 5.0%. We continue to monitor JEC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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