JCI closes within prior day's range after lackluster session
Johnson Controls (JCI) Technical Analysis Report for Sep 14, 2018
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.
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.
Prices are trading close to the key resistance level at 38.16.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
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||Direction||Win Rate||Win Rate||Exit Day||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|
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