Johnson Controls Stock Forecast
Green day on Friday for Johnson Controls
(Updated on May 17, 2024)
The Johnson Controls stock price gained 1.10% on the last trading day (Friday, 17th May 2024), rising from $68.27 to $69.02. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.84% from a day low at $67.97 to a day high of $69.22. The price has risen in 9 of the last 10 days and is up by 10.72% over the past 2 weeks. Volume fell on the last day by -2 million shares and in total, 4 million shares were bought and sold for approximately $252.71 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock has broken the wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $68.83, a level that may pose a second chance to hit a runner. According to fan-theory $75.84 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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JCI Signals & Forecast
The Johnson Controls stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $67.11 and $64.93. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 14.14%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Johnson Controls stock
On the downside, the stock finds support just below today's level from accumulated volume at $65.32 and $63.09. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Johnson Controls finds support just below today's level at $65.32. If this is broken, then the next support from accumulated volume will be at $63.09 and $60.47.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.25 between high and low, or 1.84%. For the last week, the stock has had daily average volatility of 1.56%.
Our recommended stop-loss: $66.80 (-3.22%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (JCI) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Johnson Controls to open at $68.74, and during the day (based on 14 day Average True Range), to move between $67.76 and $70.28, which gives a possible trading interval of +/-$1.26 (+/-1.83%) up or down from last closing price. If Johnson Controls takes out the full calculated possible swing range there will be an estimated 3.66% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $65.32, some $3.70 (5.36%) from the current price of $69.02, our system finds the risk reward attractive.
Is Johnson Controls stock A Buy?
Johnson Controls holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Johnson Controls of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $68.74 ( 0.411%) | $69.02 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for JCI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 69.99 | 1.40 % | |
| R2 | 69.51 | 0.709 % | ||
| R1 | 69.21 | 0.281 % | ||
| Current price: | 69.02 | |||
| Support | S1 | 68.26 | -1.10 % | |
| S2 | 67.96 | -1.53 % | ||
| S3 | 67.49 | -2.22 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 69.02 | |||
| Support | S1 | 65.32 | -5.36% | |
| S2 | 63.09 | -8.59% | ||
| S3 | 60.47 | -12.39% |
JCI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 13, 2024 | Mar 22, 2024 | Apr 19, 2024 | $0.370 | 0.581% |
| 2 | Dec 06, 2023 | Dec 15, 2023 | Jan 12, 2024 | $0.370 | 0.657% |
| 3 | Sep 13, 2023 | Sep 22, 2023 | Oct 20, 2023 | $0.370 | 0.760% |
| 4 | Jun 07, 2023 | Jun 16, 2023 | Jul 14, 2023 | $0.370 | 0.538% |
| 5 | Mar 08, 2023 | Mar 17, 2023 | Apr 14, 2023 | $0.360 | 0.626% |
FAQ
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