Johnson Controls International plc, (JCI) engages in engineering, manufacturing, commissioning & retrofitting building products & systems in United States, Europe, Asia -Pacific and internationally. It operates in four segments like Building Solutions in North America, Building Solutions EMEA/LA, Building Solutions Asia-Pacific & Global products. It is based in Ireland, comes under Industrials sector & trades as “JCI” ticker at NYSE.
JCI has completed impulse sequence as wave I at $81.77 on 12/27/2021 started from March-2020 low. It proposed ended wave II at $45.52 low in zigzag correction & favors higher in ((1)) of III. It needs to breaks above I high to confirms the further upside.
It placed (II) correction at $22.77 low against 11/28/2016 high before new sequence started in wave I of (III). Above there, it placed ((1)) at $31.34 high & ((2)) at $26.23 low. Wave ((2)) was 0.618 Fibonacci retracement of ((2)) against ((1)). Later, it started third wave extension. It favored ended ((3)) at $81.15 high & ((4)) at $74.36 low. ((4)) was shallow correction followed by upside in ((5)). Finally, it finished ((5)) at $81.77 high on 12/27/2021 high as wave I.
Below wave I high, it retraced in wave II as zigzag correction at $45.52 low in blue box area, where it found support for the next leg higher or at least larger 3 swing bounce. It placed ((A)) at $59.82 low, ((B)) at $67.99 high & ((C)) at $45.52 low. Above wave II low, it placed 1 of (1) at $59.58 high & 2 at $48.82 low as flat correction. It finished 3 at $68.65 high & 4 at $62.95 low as 0.236 Fibonacci retracement. Finally, it ended 5 at $69.60 high as (1). Below there, it favors pullback in (2) in 3, 7 or 11 swings, which should find support at extreme areas to see at least one more leg higher, while dips remain above $45.52 low.
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