Market
Overview:-
US equity market ended the week with a defensive finish. Equities climbed at the open in reaction to the release of a better than expected Non-farm Payrolls report for January. According to the bureau of Labor Statistics, January payrolls increased by 257,000 while the December reading saw a large upward revision to 329,000 from 252,000. With no major data due on Monday, market is expected to trade in a range with low volume.
BULLS
OF THE STREET (NYSE)
Name
|
Close
Price ( $ )
|
Change
%
|
Exelis
Inc.
|
24.13
|
36.25
|
Cambrex
|
30.01
|
27.54
|
Danaos
|
05.59
|
22.32
|
EXCO
Resources
|
02.51
|
17.84
|
Twitter
|
48.01
|
16.36
|
BEARS
OF THE STREET (NYSE)
Name
|
Close
Price (
$ )
|
Change
%
|
Niska
Gas Storage Partners
|
01.57
|
27.31
|
Yelp
|
45.11
|
21.51
|
De
Vry Education Group
|
36.24
|
18.10
|
Pandora
Media
|
15.24
|
17.22
|
Tempur
Sealy International
|
50.14
|
10.22
|
Recommendation
Buy above $41.75
Target
$43.50
Jacobs Engr Group Inc Del is overall in bearish trend and is sustaining at lower levels on chart. However, traders can buy the stock above the level of $41.75 which is a near term resistance level for the stock and if it manages to breach this level further bullish movement is expected in this stock to test the levels of $43.50.
CHART FORMATION
Stock is in bullish trend for near term and price is sustaining above resistance trend line with the expectation of level breakout on daily chart. Near term breach of major resistance level of $41.75 is expected which would trigger further bullish sentiment in the stock to test the levels of $43.50.
INDICATORS:-
RSI is trading with positive bias and is sustaining above the level of 45.
In MACD signal line is sustaining above MACD line which is indicating bullish sentiment in the stock.
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