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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 $34.14 and $34.40 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.

In the past 52 weeks, Johnson Controls share prices have been bracketed by a low of $30.60 and a high of $41.56 and are now at $34.16, 12% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has declined 1.2%.

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.

Potential upside of 17.3% exists for Johnson Controls, based on a current level of $34.16 and analysts' average consensus price target of $40.08. The stock should find initial resistance at its 50-day moving average (MA) of $35.12 and further resistance at its 200-day MA of $35.83.

SmarTrend is monitoring the recent change of momentum in Johnson Controls. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Johnson Controls in search of a potential trend change.

Keywords: bearish inside day candle Johnson Controls

Ticker(s): JCI