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

By Nick Russo

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. Yesterday's price range of $25.78 and $25.95 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.

There is potential upside of 0.7% for shares of Juniper Networks based on a current price of $25.86 and an average consensus analyst price target of $26.04. The stock should run into initial resistance at its 50-day moving average (MA) of $26.90 and subsequent resistance at its 200-day MA of $27.63.

In the past 52 weeks, Juniper Networks share prices have been bracketed by a low of $24.82 and a high of $30.80 and closed yesterday at $25.86, 4% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

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.

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 am inside day candle Juniper Networks

Ticker(s): JNPR