lauralea

Cup and Handle/ Crab Pattern

NYSE:J   Jacobs Solutions Inc
Earnings 5=3 Before market opens. History of recent misses. Last quarter J missed on revenue and EPS . Price always recovers afterwards. Last earnings J fell to 114.11.

Sell side of cup has a high of 149.55 and was an ATH before drop at earnings . Cup depth is 35.44. There is usually resistance from the sell/1st/side of cup as it is a prior high. In this case it was an ATH.

Bullish candle at bottom of cup and a Bullish Crab pattern noted. Price did not quite hit the 1.618. I come from a family of engineers and my brothers work here so I have held this stock for a long time. Price always recovers but earnings have been an issue.

The Crab bounces at D due to price exhaustion as it reaches a low in the bullish Crab or a high in the bearish version. There is also a Deep Crab pattern. The CD leg is the longest of the 4 legs and should reverse close to the 161.8 percent of the XA leg and an extreme crab between the 224.0 to 361.8 percent extension of the BC leg. I do not see this pattern often in a bull market as it is a deep price reversal pattern. Similar to the butterfly pattern since D is below A in the bullish versions and opposite for bearish versions. The butterfly pulls close to the .786 at leg 2 and the crab can pull to the .382 to the .618 which differentiates the two patterns. The butterfly should reverse close to the 1.272. Peak 1 is higher than peak 2 in both of these patterns and D is below X in both patterns..
The retracement of the impulse wave is where I can start to figure which harmonic pattern it may be. Then the 3rd leg can become crucial as if it goes higher than peak 1 (or lower than valley 1 in the bearish versions), then I start looking for a shark or a cypher pattern . The landing pad for most harmonic pattern is close to an area of confluence.

No recommendation.


EPS ( FWD )
7.11
PE ( FWD )
20.72
Div Rate ( TTM )
$0.86
Yield ( TTM )
0.58%
Short Interest
1.32%
Market Cap
$18.62B

Jacobs Engineering Group Inc . provides consulting, technical, scientific, and project delivery services for the government and private sectors in the United States, Europe, Canada, India, rest of Asia, Australia, New Zealand, South America, Mexico, the Middle East, and Africa. The company operates in two segments, Critical Mission Solutions and People & Places Solutions. The Critical Mission Solutions segment provides cybersecurity, data analytics, systems and software application integration and consulting, enterprise and mission IT, engineering and design, nuclear, enterprise level operations and maintenance, and other technical consulting solutions. The People & Places Solutions segment offers data analytics, artificial intelligence and automation, software development, digitally driven consulting, planning and architecture, program management, and other technical consulting solutions. The company is also involved in the management and execution of wind-tunnel design-build projects; and design-build for water and construction management. Jacobs Engineering Group Inc . was founded in 1947 and is headquartered in Dallas, Texas.


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