Today, the construction services firm Jacobs Engineering Group Inc. (NYSE:JEC) is trading lower by 0.53 cents to $51.18 a share. This stock stock peaked out in late November 2016 at $63.42 a share. Since that high pivot the stock has been steadily trending lower. Traders and investors should note that JEC stock is now tagging the weekly chart 200 moving average. This level is also coinciding with the wide range breakout bar from early November 2016.
Traders can look to buy JEC stock around the $49.00 level. It is important to use a weekly chart stop loss on any close below $45.95. The upside target for this stock is around $54.00 and ultimately a move into $60.00 area.
Nicholas Santiago
InTheMoneyStocks
