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Possible Bearish Inside Day Candle Pattern Detected for Johnson Controls (NYSE:JCI)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Johnson Controls (NYSE:JCI) based on the price action in the company's shares. Today's price range of $39.26 and $39.26 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Johnson Controls may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

There is potential upside of 2.1% for shares of Johnson Controls based on a current price of $39.26 and an average consensus analyst price target of $40.08. Johnson Controls shares have support at the 50-day moving average (MA) of $36.74 and additional support at the 200-day MA of $35.07.

In the past 52 weeks, Johnson Controls share prices have been bracketed by a low of $28.30 and a high of $40.33 and are now at $39.26, 39% above that low price. The 200-day and 50-day moving averages have moved 0.21% higher and 0.83% higher over the past week, respectively.

Johnson Controls International plc (JCI) provides building products and technology solutions. The Company offers air systems, building management, HVAC controls, security, and fire safety solutions. JCI serves customers worldwide.

SmarTrend recommended that subscribers consider buying shares of Johnson Controls on January 7th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $31.62. Since that recommendation, shares of Johnson Controls have risen 25.2%. We continue to monitor JCI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle Johnson Controls

Ticker(s): JCI