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Johnson Controls Set to Possibly Pullback After Yesterday's Rally of 4.58%

By James Quinn

Johnson Controls (NYSE:JCI) traded in a range yesterday that spanned from a low of $34.00 to a high of $35.45. Yesterday, the shares gained 4.6%, which took the trading range above the 3-day high of $33.63 on volume of 2.2 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Johnson Controls has traded in a range of $30.60 to $41.56 and is now at $34.70, 13% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 1% while the 200-day MA has slid 0.3%.

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: rebounders Johnson Controls

Ticker(s): JCI