The USD 58.5 support, currently tested, should allow Jacobs Engineering to rally again.
From a fundamental viewpoint, Jacobs Engineering is undervalued in terms of enterprise value. Based on the current price, its market capitalization, plus its net debt, represents 0.54 times its revenues. This P/E ratio is only 15.99 and 13.72 times on the current and next year earnings estimates.
Technically, the security fell sharply for several weeks. This fall has lead Jacobs Engineering towards the USD 58.5 support area, which could become useful as a stepping stone for a rebound. The target of this bullish trend is the USD 63 resistance. Moreover, the oversold situation could encourage a renewed interest in Jacobs Engineering.
Therefore, the proximity of the USD 58.5 support is an opportunity to take a long position in Jacobs Engineering Group. The first goal is a return in the USD 63 resistance area, that is a potential of 7.4%. In fact, the security has to cross this area in order to re-establish a bullish trend in the short term. A stop loss order can be placed under the support currently tested.
Jacobs Solutions Inc. provides a range of professional services, including consulting, technical, engineering, scientific, and project delivery, for the government and private sectors. Its segments include Critical Mission Solutions (CMS), People & Places Solutions (P&PS), Divergent Solutions (DVS), and PA Consulting (PA). CMS segment provides a range of solutions, such as information and cyber warfare, digital transformation and modernization, national security and defense, space exploration, digital asset management and the green energy transition. P&PS segment provides end-to-end solutions for clients, such as climate change, energy transition, connected mobility, integrated water management, smart cities, and biopharmaceutical manufacturing. DVS segment serves as the core foundation for developing and delivering advanced cloud, cyber, data and digital technologies. PA Consulting segment provides consulting services to sectors such as security, energy, health, transport, and others.
JACOBS SOLUTIONS INC. 
