JNPR closes below its opening price unable to hold early session gains

Juniper Networks (JNPR) Technical Analysis Report for Sep 14, 2018

Highlights

JNPR closes below its opening price unable to hold early session gains
JNPR finds buyers at key support level
JNPR unable to break through key resistance level
JNPR fails to close above 20-day moving average
JNPR closes higher for the 3rd day in a row

TQ Sentiment

Report Sentiment: 37% Bearish
Technical Forecast:

Overview

Moving higher for the 3rd day in a row, JNPR ended the week 1.31% higher at 27.87 after edging higher $0.05 (0.18%) today on high volume. Today's closing price of 27.87 marks the highest close since September 5th. Trading $0.41 higher after the open, the stock was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for JNPR

Volatility

Friday's trading range was $0.66 (2.36%), that's far above last trading month's daily average range of $0.39. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being below average.

Support/Resistance

After trading as low as 27.67 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. Unable to break through the key technical resistance level at 28.33, the share closed below it after spiking as high as 28.33 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward. After spiking up to 28.33 during the day, Juniper Networks found resistance at the 20-day moving average at 28.14.

Trend

While JNPR is currently in a short-term down trend, this could just be a correction, as the medium and long term trends are both positive.

Order Flow

As prices are trading close to September's high at 28.42, upside momentum might speed up should the stock mark new highs for the month.

Conclusion

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

Market Conditions for Juniper Networks

Condition Forecast Direction Win Rate Exit Day Events
4 Consecutive Higher Closes TQ Pro Members Only
Bearish Bounce off SMA 20 TQ Pro Members Only
High close to previous High TQ Pro Members Only
Close to Swing High TQ Pro Members Only
Bounced off Technical Resistance R1 TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

JNPR closes within prior day's range

Sep 17, 2018
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