JNPR plummets, loses $0.65 (-2.28%) within a single day

Juniper Networks (JNPR) Technical Analysis Report for Jul 13, 2018

Highlights

JNPR crashes, loses $0.65 (-2.28%) within a single day
JNPR breaks key support level
JNPR finds buyers at key support level
JNPR finds support at 20-day moving average
JNPR runs into sellers again around 28.55

TQ Sentiment

Report Sentiment: 62% Bearish
Technical Forecast:

Overview

JNPR finished the week -0.36% lower at 27.86 after tanking $0.65 (-2.28%) today. This is the biggest single day loss in over two months. Today's closing price of 27.86 marks the lowest close since July 5th. Closing below Thursday's low at 28.27, Juniper Networks confirms its breakout through the prior session's low having traded $0.87 below it intraday.

Daily chart for JNPR

Volatility

Friday's trading range was $1.15 (4.04%), that's far above last trading month's daily average range of $0.52. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly above average.

Price Action

In a volatile session, prices traded above the previous day's high as well as below the prior day's low, forming a bearish Outside Bar.

Support/Resistance

After trading as low as 27.40 during the day, the market bounced off the key support level at 27.80. The failure to close below the support could increase that levels importance as support going forward. Breaking below the key support level at 28.34 today, it is now likely to act as resistance going forward. After having been unable to move above 28.51 in the previous session, the share ran into sellers again around the same price level today, failing to move higher than 28.55. After trading as low as 27.40 during the day, the stock found support at the 20-day moving average at 27.40.

Trend

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

Conclusion

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

Market Conditions for Juniper Networks

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