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Possible Bearish Inside Day Candle Pattern Detected for Jones Lang LaSalle (NYSE:JLL)

Published on Mon, 04/29/2013 - 07:35
By Mallory Stone

Analysts have spotted a possible bearish inside day candle pattern in Jones Lang LaSalle (NYSE:JLL) based on the price action in the company's shares. Yesterday's price range of $95.58 and $96.57 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Jones Lang LaSalle may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

There is potential upside of 9.8% for shares of Jones Lang LaSalle based on a current price of $96.50 and an average consensus analyst price target of $106.00. The stock should find resistance at its 50-day moving average (MA) of $97.15, as well as support at its 200-day MA of $83.29.

Jones Lang LaSalle share prices have moved between a 52-week high of $100.91 and a 52-week low of $61.39 and closed yesterday at 57% above that low price at $96.50 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.8% while the 50-day MA has declined 0.3%.

Jones Lang LaSalle Incorporated provides real estate and investment management services. The Company serves multinationals, corporations, institutions, occupiers, and investors from offices in markets located around the world. Jones Lang provides services such as tenant representation, property management, agency leasing, finance, and valuations.

By Mallory Stone
mstone@fnno.com

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