A technical analysis of JUNIPER NETWORKS INC.

JUNIPER NETWORKS INC (NYSE:JNPR) has been identified as a Technical Breakout Setup Pattern by our stock screener. This pattern typically occurs when a stock takes a pause after a significant rise, indicating the possibility of a continuation in the trend. While it's impossible to predict with certainty, it might be beneficial to monitor NYSE:JNPR.

Insights from Technical Analysis

ChartMill utilizes a proprietary algorithm to assign a Technical Rating to every stock. This rating, ranging from 0 to 10, is computed daily by analyzing a variety of technical indicators and properties.

Taking everything into account, JNPR scores 7 out of 10 in our technical rating. This is due to a decent performance in both the short and longer term time frames. Compared to the overall market however, JNPR is a bad performer.

• Both the short term and long term trends are positive. This is a very positive sign.
• JNPR is an average performer in the Communications Equipment industry, it outperforms 64% of 58 stocks in the same industry.
• JNPR is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so JNPR is lagging the market.
• In the last month JNPR has a been trading in a tight range between 28.22 and 29.77.

Our latest full technical report of JNPR contains the most current technical analsysis.

Why is NYSE:JNPR a setup?

In addition to the Technical Rating, ChartMill provides a Setup Rating for each stock. This rating, ranging from 0 to 10, assesses the level of consolidation in the stock based on multiple short-term technical indicators. Currently, NYSE:JNPR has a 9 as its setup rating, indicating its current consolidation status.

JNPR has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 29.49. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 29.38, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for JNPR in the last couple of days, which is a good sign.

How to trade NYSE:JNPR?

For a potential trade one would typically wait until the stock breaks out of the consolidation zone to enter the stock and it could be sold again for a loss when it would fall back below the zone.

Please note that this article should not be construed as trading advice. The information provided is solely based on automated technical analysis and serves to highlight technical observations. It is important to conduct your own analysis and make trading decisions based on your own judgment and responsibility.

Every day, new breakout setups can be found on ChartMill in our Breakout screener.

Keep in mind

This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.