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Possible Bearish Inside Day Candle Pattern Detected for Juniper Networks (NYSE:JNPR)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Juniper Networks (NYSE:JNPR) based on the price action in the company's shares. Yesterday's price range of $23.42 and $23.66 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 Juniper Networks may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Juniper Networks has overhead space with shares priced $23.80, or 8.6% below the average consensus analyst price target of $26.04. Juniper Networks shares have support at the 200-day moving average (MA) of $23.57 and additional support at the 50-day MA of $21.18.

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.

Juniper Networks share prices have moved between a 52-week high of $27.57 and a 52-week low of $15.20 and closed yesterday at 57% above that low price at $23.80 per share. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 0.5%.

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

Keywords: bearish am inside day candle Juniper Networks

Ticker(s): JNPR