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

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Juniper Networks (NYSE:JNPR) based on the price action in the company's shares. Yesterday's price range of $23.27 and $23.46 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. Traders and investors interested in shares of Juniper Networks may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

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.

There is potential upside of 11.5% for shares of Juniper Networks based on a current price of $23.35 and an average consensus analyst price target of $26.04. Juniper Networks shares should first meet resistance at the 50-day moving average (MA) of $24.19 and find additional resistance at the 200-day MA of $26.17.

Over the past year, Juniper Networks has traded in a range of $22.42 to $30.80 and closed yesterday at $23.35, 4% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 0.8%.

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: bullish am inside day candle Juniper Networks

Ticker(s): JNPR