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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. Today's price range of $22.70 and $22.99 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 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 has overhead space with shares priced $22.71, or 28.4% below the average consensus analyst 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.

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, shares of Juniper Networks have traded between a low of $21.17 and a high of $32.39 and are now at $22.71, which is 7% above that low price. The 200-day and 50-day moving averages have moved 0.27% lower and 0.63% lower over the past week, respectively.

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

Keywords: bearish inside day candle Juniper Networks

Ticker(s): JNPR