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

By Amy Schwartz

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. Yesterday's price range of $39.21 and $39.37 is within the prior day'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, shares of Johnson Controls have traded between a low of $28.30 and a high of $40.33 and closed yesterday at $39.21, which is 39% above that low price. The 200-day and 50-day moving averages have moved 0.06% higher and 0.52% 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.

There is potential upside of 2.2% for shares of Johnson Controls based on a current price of $39.21 and an average consensus analyst price target of $40.08. The stock should find initial support at its 50-day moving average (MA) of $37.40 and further support at its 200-day MA of $35.19.

SmarTrend is tracking the current trend status for Johnson Controls and will alert subscribers who have JCI in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle Johnson Controls

Ticker(s): JCI