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.
Bullseye Trading has logged in 17 consecutive winning trades since it began on September 2, 2019! This performance is verified and documented. Check out EVERY trade now right here.