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Possible Bearish Inside Day Candle Pattern Detected for Jones Lang LaSalle (NYSE:JLL)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Jones Lang LaSalle (NYSE:JLL) based on the price action in the company's shares. Yesterday's price range of $121.44 and $125.03 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 Jones Lang LaSalle may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Jones Lang LaSalle has overhead space with shares priced $121.99, or 0.2% below the average consensus analyst price target of $122.25. The stock should find resistance at its 200-day moving average (MA) of $142.47, as well as support at its 50-day MA of $115.64.

Jones Lang LaSalle Incorporated provides real estate and investment management services. The Company serves multinationals, corporations, institutions, occupiers, and investors from offices in markets located around the world. Jones Lang provides services such as tenant representation, property management, agency leasing, finance, and valuations.

Over the past year, Jones Lang LaSalle has traded in a range of $86.62 to $179.97 and closed yesterday at $121.99, 41% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has slid 0.8%.

SmarTrend recommended that subscribers consider buying shares of Jones Lang LaSalle on April 21st, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $111.15. Since that recommendation, shares of Jones Lang LaSalle have risen 12.6%. We continue to monitor JLL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle jones lang lasalle

Ticker(s): JLL