Johnson Controls (JCI) NewsBite - JCI Downgraded By Goldman Sachs
Posted: Friday, July 17, 2009 11:55 AM EDT
By: Market Intelligence Center Staff
Johnson Controls (JCI) was downgraded today by analysts at Goldman Sachs and the stock is now at $21.05, down $0.37 (-1.73%) on volume of 4,763,209 shares traded. JCI was added to JCI's Conviction Sell List. Over the last 52 weeks the stock has ranged from a low of $8.35 to a high of $36.00. Johnson Controls stock has been showing support around $20.27 and resistance in the $22.15 range. Technical indicators for the stock are neutral and S&P gives JCI a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on JCI the stock seems like it could be a candidate for an October out-of-the-money bear-call credit spread above the 25 range. [ABR-Seven Summits Strategic Investments NewsBite]
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