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

By Shiri Gupta

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 $36.57 and $36.57 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.

Johnson Controls (NYSE:JCI) has potential upside of 9.6% based on a current price of $36.57 and analysts' consensus price target of $40.08. The stock should find initial support at its 200-day moving average (MA) of $34.65 and further support at its 50-day MA of $34.36.

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.

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 $36.57, 29% above that low price. The 200-day and 50-day moving averages have moved 0.15% higher and 1.25% higher over the past week, respectively.

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 16.9%. 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