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Possible Bearish Inside Day Candle Pattern Detected for Juniper Networks (NASDAQ:JNPR)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Juniper Networks (NASDAQ:JNPR) based on the price action in the company's shares. Yesterday's price range of $24.43 and $24.79 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 Juniper Networks may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Juniper Networks, Inc. provides Internet infrastructure solutions for Internet service providers and other telecommunications service providers. The Company offers network infrastructure solutions that includes IP routing, Ethernet switching, security and application acceleration solutions.

In the past 52 weeks, Juniper Networks share prices have been bracketed by a low of $21.17 and a high of $32.39 and closed yesterday at $24.52, 16% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.6% while the 200-day MA has slid 0.3%.

Juniper Networks (NASDAQ:JNPR) has potential upside of 29.3% based on a current price of $24.52 and analysts' consensus price target of $31.70. Juniper Networks shares should first meet resistance at the 50-day moving average (MA) of $24.65 and find additional resistance at the 200-day MA of $26.71.

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

Keywords: bearish am inside day candle Juniper Networks

Ticker(s): JNPR