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

By James Quinn

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. Today's price range of $23.42 and $23.62 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 Juniper Networks may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

There is potential upside of 10.4% for shares of Juniper Networks based on a current price of $23.60 and an average consensus analyst price target of $26.04. The stock should find initial support at its 200-day moving average (MA) of $23.58 and further support at its 50-day MA of $21.13.

In the past 52 weeks, Juniper Networks share prices have been bracketed by a low of $15.20 and a high of $27.57 and are now at $23.60, 55% above that low price. The 200-day and 50-day moving averages have moved 0.46% lower and 0.12% lower over the past week, respectively.

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.

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 inside day candle Juniper Networks

Ticker(s): JNPR