Potential Buy Idea
Johnson Controls International is an American, Irish-domiciled multinational conglomerate headquartered in Cork, Ireland, that produces fire, HVAC, and security equipment for buildings. As of mid-2019, it employed 105,000 people in around 2,000 locations across six continents.
W formation is present with the double bottom of course.
This could push price above the recent high to a new ATH.
4Hr Chart.
Again using bars pattern tool.
The PEAD projected a bullish outlook for $JCI after a Negative under reaction following its earnings release placing the stock in drift D with an expected accuracy of 33.33%.
A breakout on the Monthly timeframe out of a very large Ascending Triangle .
This is very bullish for JCI
This Ascending Triangle is Massive as per the Monthly chart
The PEAD projected a Bullish outlook for $JCI after a Negative over reaction following its earnings release placing the stock in drift C with an expected accuracy of 60%.
Having not broken $82, NYSE:JCI turned back to $67 zone, and broke it. It seems that NYSE:JCI is modeling the previous downtrend move, mentioned as AB on the chart. That being said, the PRZ and TRZ of the downtrend are $55 (in the short term and $45 in the mid-term) till the end of April (for the short term and the end of June for the longer time horizon)....
The PEAD projected a Bullish outlook for $JCI after a Positive over reaction following its earnings release placing the stock in drift B with an expected accuracy of 33.33%.
Resistance 1 : 72.60
Support 1 : 68.50
Support 2 : 60.40
JCI will continue to break new High and Support_1 : 68.50 will be strong support for short term because this is the Window GAP.
Resistance 1 : 70.80
Support 1 : 68.50
Support 2 : 59.40
JCI had announced QR last week and continue break new High. JCI need to stand above 70.80 in order to prove that Resistance_1 is strong support for next new High. If drop below 70.80, will look back at Support_1 : 68.50.
WATCHING $JCI for Entry Target @ 64.25
Lately I’ve been on a mission to find the best quality growth stocks I can find… this chart looks nice… but I can’t get over how over bought this market is (BIG green arrow) so I’m really starting to lean bearish… sure, it can keep going up but a correction would make so much more sense right now…
I guess you can be...
Resistance 1 : 70.80
Support 1 : 68.50
Support 2 : 59.40
JCI had dropped below 68.50 at 19 July 2021 and immediately bounced back above 69.70 to close the Window GAP mean JCI still strong in short. After that JCI had achieved the new High - 70.80 at 23 Jul 2021. JCI must stand above 70.80 in order to break new High. If unable to stand above 70.80, will look back...
