• Return to Headlines

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

By David Diaz

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. Today's price range of $41.65 and $41.96 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 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.

In the past 52 weeks, Johnson Controls share prices have been bracketed by a low of $33.62 and a high of $54.52 and are now at $41.76, 24% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 1.1%.

There is potential upside of 25.8% for shares of Johnson Controls based on a current price of $41.76 and an average consensus analyst price target of $52.53. Johnson Controls shares have support at the 200-day moving average (MA) of $40.61 and additional support at the 50-day MA of $38.90.

Johnson Controls, Inc. markets automotive systems and building controls. The Company supplies seating systems, interior systems, and batteries. Johnson Controls also provides building control systems and services, energy management, and integrated facility management, as well as provides batteries for automobiles and hybrid electric vehicles.

SmarTrend recommended that subscribers consider buying shares of Johnson Controls on February 29th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $36.77. Since that recommendation, shares of Johnson Controls have risen 12.4%. We continue to monitor JCI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish inside day candle Johnson Controls

Ticker(s): JCI