Jabil (JBL) gets bullish signal as it hits support at its 50-day moving average
Electronics manufacturer Jabil (NYSE: JBL) had an incredible run in January and February, jumping the $23 area all the way up to $29.50. The stock was in overbought territory from mid-January until the end of February, at least based on the daily stochastic readings.
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The stock recently pulled back from the February high and dropped down to the $26.50 area and has since bounced back a little. The Tickeron AI Prediction tool generated a bullish signal on March 18. That signal calls for a 2% gain over the coming week and it showed a 71% confidence level. Previous predictions on Jabil have been accurate 66% of the time.
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Looking at the daily chart we see that the pullback was halted just above the 50-day moving average and the stock has been hovering just above the ascending trend line for several days now. We also see that the pullback caused the daily stochastic readings to move from overbought to oversold, but the indicators just made a bullish crossover.
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Jabil’s fundamentals are a mixed bag. Earnings have grown by an average of 13% per year over the last three years, but they were down by 3% in the most recent quarter. Sales have grown by an average of 9% per year over the last three years and jumped by 14% in the most recent quarter.
Even the management efficiency measurements are mixed. The return on equity is above average at 21.3%, but the profit margin is below average at only 2.7%.
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JBL's Stochastic Oscillator is remaining in oversold zone for 2 days
Be on the lookout for a price bounce soon.
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Notable companies
The most notable companies in this group are Corning (NYSE:GLW), Universal Display Corp (NASDAQ:OLED).
Industry description
The Electronic Components industry produces electronic equipment for industries and consumer electronics products, such as mobile devices, televisions, and circuit boards. TE Connectivity Ltd, for example, is a company that designs and manufactures connectivity and sensor products for harsh environments in various industries, such as automotive, industrial equipment, aerospace, and oil & gas. Another major player, Corning Inc., makes advanced optics including end-to-end fiber and wireless solutions for communications networks along with various other technologies catering to industrial and scientific applications.
Market Cap
The average market capitalization across the Electronic Components Industry is 5.84B. The market cap for tickers in the group ranges from 3.89K to 436.14B. MAWAF holds the highest valuation in this group at 436.14B. The lowest valued company is ALPE at 3.89K.
High and low price notable news
The average weekly price growth across all stocks in the Electronic Components Industry was -0%. For the same Industry, the average monthly price growth was 2%, and the average quarterly price growth was 9%. TNLX experienced the highest price growth at 53%, while SELX experienced the biggest fall at -19%.
Volume
The average weekly volume growth across all stocks in the Electronic Components Industry was 62%. For the same stocks of the Industry, the average monthly volume growth was 68% and the average quarterly volume growth was 300%
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
Valuation Rating: 38
P/E Growth Rating: 49
Price Growth Rating: 55
SMR Rating: 75
Profit Risk Rating: 72
Seasonality Score: 2 (-100 ... +100)