Watching $JCI closely around the 144-145 mark
Been keeping an eye on Johnson Controls ($JCI) this week, and it's starting to look interesting on the daily chart. We saw a decent move today, hitting 144.44 at its high and closing around 142.81. What's catching my attention is the previous resistance zone that comes in right around 144-145. We've tried to push through that level a few times in the last couple of months and it's generally held firm.
My scenario is that a clean break and hold above 145, say on daily closes, could signal a pretty good move higher. The volume today wasn't spectacular but it wasn't awful either. The risk to that idea, obviously, is if it just bounces off 144-145 again and starts to reverse. If we see a failure to hold those highs and a quick pullback towards, say, 140, then this idea is likely invalid. Just my two cents, always keeping the risk in mind.