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Watch This Support Level For Johnson Controls ($JCI)

Leading diversified technology and multi industrial company, Johnson Controls International PLC (NYSE:JCI), topped out in early November. At that time, the stock traded as high as $44.82 a share. Since that high pivot, the stock has been pulling back and could have a bit more downside in the cards. You see, there is currently a bearish consolidation pattern being formed and that usually signal further weakness ahead for the stock. Traders should watch for solid support around the $36.00 area. This is where the stock broke out in late April 2019. Often, these prior break-out levels will serve as excellent support when retested.

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