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

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Juniper Networks (NYSE:JNPR) based on the price action in the company's shares. Today's price range of $27.00 and $27.17 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.

Based on a current price of $27.08, Juniper Networks is currently 3.8% above its average consensus analyst price target of $26.04. The stock should find resistance at its 200-day moving average (MA) of $27.53, as well as support at its 50-day MA of $26.74.

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 $24.51 and a high of $30.80 and are now at $27.08, which is 10% above that low price. The 200-day and 50-day moving averages have moved 0.08% lower and 0.08% higher 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