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

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Johnson Controls (NYSE:JCI) based on the price action in the company's shares. Today's price range of $41.10 and $41.56 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 Johnson Controls 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, Johnson Controls share prices have been bracketed by a low of $33.95 and a high of $44.82 and are now at $41.10, 21% 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 0.3%.

Based on a current price of $41.10, Johnson Controls is currently 2.5% above its average consensus analyst price target of $40.08. The stock should find resistance at its 200-day moving average (MA) of $41.42, as well as support at its 50-day MA of $40.99.

Johnson Controls International plc (JCI) provides building products and technology solutions. The Company offers air systems, building management, HVAC controls, security, and fire safety solutions. JCI serves customers worldwide.

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

Keywords: bearish inside day candle Johnson Controls

Ticker(s): JCI