NEW BULLISH Plays
Johnson Controls Inc. - JCI - close: 51.45 change: +0.54
Stop Loss: 49.75
Current Gain/Loss: unopened
Entry on December -- at $--.--
Listed on December 10, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 4.7 million
New Positions: Yes, see below
Why We Like It:
JCI is in the consumer goods sector. The company is a diversified technology and industrial design company. They design systems for buildings, they make automobile batteries, and they manufacture interiors for autos.
The stock shot higher following its late October earnings report. The stock popped again after announcing a $3.65 billion stock buyback program over the next three years.
This morning the stock gapped open higher in reaction to an analyst upgrade. RBC Capital raised JCI from "outperform" to their "Top Pick" and gave the stock a $61 price target.
I am suggesting a trigger to open bullish positions at $52.10. If triggered our multi-week target is $57.50.
NOTE: JCI will begin trading ex-dividend on December 12th. The quarterly cash dividend should be 22 cents.
FYI: The Point & Figure chart for JCI is bullish with a long-term $80.00 target.
Trigger @ 52.10
Suggested Position: buy JCI stock @ (trigger)
- (or for more adventurous traders, try this option) -
Buy the 2014 April $55 call (JCI1419D55) current ask $1.40