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

By James Quinn

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 $39.39 and $39.99 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.

In the past 52 weeks, Johnson Controls share prices have been bracketed by a low of $28.30 and a high of $40.33 and closed yesterday at $39.66, 40% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has remained constant.

Johnson Controls (NYSE:JCI) has potential upside of 1.1% based on a current price of $39.66 and analysts' consensus price target of $40.08. Johnson Controls shares have support at the 50-day moving average (MA) of $38.30 and additional support at the 200-day MA of $35.26.

SmarTrend recommended that subscribers consider buying shares of Johnson Controls on January 7th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $31.62. Since that recommendation, shares of Johnson Controls have risen 23.9%. We continue to monitor JCI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish am inside day candle Johnson Controls

Ticker(s): JCI