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Possible Bearish Inside Day Candle Pattern Detected for Jabil Inc (NYSE:JBL)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Jabil Inc (NYSE:JBL) based on the price action in the company's shares. Today's price range of $27.41 and $28.03 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. Owners of Jabil Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Jabil Inc share prices have moved between a 52-week high of $44.20 and a 52-week low of $17.63 and are now trading 58% above that low price at $27.78 per share. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has declined 3.1%.

There is potential upside of 16.0% for shares of Jabil Inc based on a current price of $27.78 and an average consensus analyst price target of $32.22. The stock should hit resistance at its 200-day moving average (MA) of $33.48, as well as support at its 50-day MA of $25.75.

Jabil Inc provides electronic manufacturing services. The Company offers digital prototyping, printed electronics, device integration, circuit designing, and volume board assembly services. Jabil serves automotive, consumer health, data centers, energy, and defense and aerospace sectors worldwide.

SmarTrend is tracking the current trend status for Jabil Inc and will alert subscribers who have JBL in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle jabil inc

Ticker(s): JBL