Let's review the charts and JCI indicators to see how much lower this stock may go in the weeks ahead.
In this daily bar chart of JCI, below, we can see a pattern of lower lows and lower highs - the simple definition of a downtrend. Prices are below the declining 50-day moving average line and below the bearish 200-day average line.
The daily On-Balance-Volume (OBV) line has generally tracked prices the past year and we can see a decline from late August. For the past two months sellers of JCI have been more aggressive.
The daily Moving Average Convergence Divergence (MACD) oscillator just crossed to the upside for a cover shorts buy signal.
In this weekly bar chart of JCI, below, we can see that prices have been trending lower since late 2016. Prices are below the declining 40-week moving average line.
The weekly OBV line is bearish and so is the MACD oscillator.
In this Point and Figure chart of JCI, below, we can see a lot of price history and a downside price target of $22.
Bottom line strategy: JCI could bounce a bit in the short-run but the weekly bar chart shows a longer pattern of weakness with no bottoming signals. I would look for JCI to head to the low $20's in the weeks and months ahead.