I recommended the purchase of Jacobs Engineering ( J) on July 20 and got a pleasant surprise Tuesday as the stock price soared on the charts. I wrote that Jabobs "i s not a household name but it does look like a good investment based on the charts. Investors could go long J at current levels risking to $112 for now. Add to longs above $130. My first price target is $159 and $191 is my longer-term objective." 
Let's review Jacobs' charts again and adjust our stops and targets.
In this updated daily bar chart of J, below, I can see an accelerating move to the upside in recent days. Prices are trading above the rising 50-day moving average line and above the rising 200-day moving average line. The 50-day line has crossed above the 200-day line for a bullish golden cross buy signal. The trading volume has remained active and tells me that we are seeing increased investor interest. The On-Balance-Volume (OBV) line has been strong since October and tells me that buyers of J have been more aggressive than sellers. The Moving Average Convergence Divergence (MACD) is in a bullish alignment above the zero line.
In this weekly Japanese candlestick chart of J, below, I can see a bullish picture. Prices are in a longer-term rise above the positively sloped 40-week moving average line. The OBV line has been gaining ground the past three months. The MACD oscillator has now moved above the zero line for an outright buy signal. No upper shadows are seen and this week's candle is likely to be white (bullish).
In this daily Point and Figure chart of J, below, I can see an upside price target in the $155 area.
In this second Point and Figure chart of J, below, I used weekly price data to get a price target in the $182 area.
Bottom line strategy: Traders who are long J should continue to hold. Raise stop loss protection to $125 from $112. The $155 area is my nearest price objective.
