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

By James Quinn

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. Yesterday's price range of $27.41 and $28.03 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. 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.

In the past 52 weeks, shares of Jabil Inc have traded between a low of $17.63 and a high of $44.20 and closed yesterday at $27.66, which is 57% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 1.3%.

Jabil Inc has overhead space with shares priced $27.66, or 14.2% below the average consensus analyst price target of $32.22. The stock should hit resistance at its 200-day moving average (MA) of $33.46, as well as support at its 50-day MA of $25.67.

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 am inside day candle jabil inc

Ticker(s): JBL