Jefferies May Be Nearing a Breakout

BATS:JEF   Jefferies Financial Group Inc.
Jefferies Financial has been a tight range near old highs, and some traders may expect a breakout soon.

The first item on today’s chart is the ascending triangle since 2024 began. The investment bank was initially trapped under $41, but more recently has pushed above that level. Is it breaking the continuation pattern to the upside?

Second, JEF is near the previous record high of $42.29. Investors could monitor that level for confirmation of a longer-term acceleration.

Third, earnings beat estimates last month. MACD was falling at the time, which may explain why the stock consolidated instead of climbing. However, the oscillator turned up last week. That may suggest momentum is getting more bullish again.

Finally, the 8-day exponential moving average (EMA) has remained above the 21-day EMA since early November.

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