JCI closes within prior day's range after lackluster session

Johnson Controls (JCI) Technical Analysis Report for Sep 14, 2018

Highlights

JCI closes above its opening price after recovering from early selling pressure
JCI closes higher for the 2nd day in a row
JCI closes within previous day's range after lackluster session
JCI ends the day indecisive

TQ Sentiment

Report Sentiment: 0% Neutral
Technical Forecast:

Overview

Moving higher for the 2nd day in a row, JCI finished the week -0.78% lower at 38.00 after edging higher $0.06 (0.16%) today. Trading up to $0.23 lower after the open, the stock managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for JCI

Volatility

Friday's trading range was $0.39 (1.03%), that's below last trading month's daily average range of $0.67. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being below average.

Support/Resistance

Prices are trading close to the key resistance level at 38.16.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.

Market Conditions for Johnson Controls

Condition Forecast Direction Win Rate Exit Day Events
Close near low of period TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
Down Close Near Low of Period TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
More market conditions identified for TQ Pro members...
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