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Possible Bullish Inside Day Candle Pattern Detected for Johnson Controls (NYSE:JCI)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Johnson Controls (NYSE:JCI) based on the price action in the company's shares. Yesterday's price range of $39.53 and $40.05 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. Traders and investors interested in shares of Johnson Controls may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Johnson Controls International plc (JCI) provides building products and technology solutions. The Company offers air systems, building management, HVAC controls, security, and fire safety solutions. JCI serves customers worldwide.

Johnson Controls has overhead space with shares priced $39.25, or 2.1% below the average consensus analyst price target of $40.08. The stock should find initial resistance at its 50-day moving average (MA) of $40.85 and further resistance at its 200-day MA of $41.51.

In the past 52 weeks, Johnson Controls share prices have been bracketed by a low of $34.74 and a high of $44.82 and closed yesterday at $39.25, 13% above that low price. The 200-day and 50-day moving averages have moved 0.02% higher and 0.31% lower over the past week, respectively.

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

Keywords: bullish am inside day candle Johnson Controls

Ticker(s): JCI