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Possible Bullish Inside Day Candle Pattern Detected for Jabil Circuit (NYSE:JBL)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Jabil Circuit (NYSE:JBL) based on the price action in the company's shares. Today's price range of $28.32 and $28.80 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. Traders and investors interested in shares of Jabil Circuit may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Jabil Circuit, Inc. is an electronic manufacturing services provider for international electronics companies in the communications, personal computer, peripheral, consumer, and automotive markets. The Company offers circuit design, board design from schematic, prototype assembly, volume board assembly, system assembly, repair, and warranty services.

In the past 52 weeks, Jabil Circuit share prices have been bracketed by a low of $16.78 and a high of $29.86 and are now at $28.70, 71% above that low price. The 200-day and 50-day moving averages have moved 0.26% lower and 1.48% lower over the past week, respectively.

Jabil Circuit (NYSE:JBL) defies analysts with a current price ($28.70) 13.9% above its average consensus price target of $24.71. The stock should discover initial support at its 200-day moving average (MA) of $20.95 and subsequent support at its 50-day MA of $19.29.

SmarTrend recommended that subscribers consider buying shares of Jabil Circuit on December 16th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $24.42. Since that recommendation, shares of Jabil Circuit have risen 15.6%. We continue to monitor JBL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish inside day candle Jabil Circuit

Ticker(s): JBL