Hello Everyone,
JCI is forming a classic triple top formation on a point and figure chart.
The 52 level is what to look for on a breakout. Target area would be around the 64 level.
These charts move at a somewhat slower pace than regular charts we know today so if you trade options make sure you give yourself plenty of time.
The IV is low here so a July 2015 call or call debit spread around the 50 strike which is near ATM could be considered as a substitute for stock.