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Possible Bullish Inside Day Candle Pattern Detected for Juniper Networks (NASDAQ:JNPR)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Juniper Networks (NASDAQ:JNPR) based on the price action in the company's shares. Yesterday's price range of $21.33 and $21.65 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 Juniper Networks may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Potential upside of 47.4% exists for Juniper Networks, based on a current level of $21.51 and analysts' average consensus price target of $31.70. The stock should find initial resistance at its 50-day moving average (MA) of $24.65 and further resistance at its 200-day MA of $26.71.

Over the past year, Juniper Networks has traded in a range of $21.17 to $32.39 and closed yesterday at $21.51, 2% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has declined 0.6%.

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 recommended that its subscribers protect gains by selling shares of Juniper Networks on April 12th, 2016 by issuing a Downtrend alert when the shares were trading at $22.81. Since that call, shares of Juniper Networks have fallen 6.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bullish am inside day candle Juniper Networks

Ticker(s): JNPR