stock
Jacobs Solutions (JI-N, Wednesday’s close US$134.09) rallied from US$59.33 in March 2020 to US$149.55 in November 2021 (A-B) and then fell below the 40-week Moving Average (40wMA) in early 2022 to signal the end of the rising trend (C). After a brief recovery rally (D), the stock started a downtrend below a falling trendline for about one year (dotted line).
The decline ended in late-2022 when the stock found support near US$108 (dashed line) and rallied above the falling trendline and the 40wMA (E). Jacobs has since pulled back toward the Average (F) and now appears ready to resume the uptrend. Only a sustained decline below ±US$125 would be negative.
Point & Figure measurements provide targets of US$140 and US$155. Higher targets are visible.
Monica Rizk is the Senior Technical Analyst of the Phases & Cycles publication (www.capitalightresearch.com). Chart source: www.decisionplus.com
Monica Rizk