JNJ has had a good run since the beginning of 2017. Although, the stock price has dropped from a high of $148 to $122, I think reality is catching up with investors that equity valuations have been quite expensive and that it is time for some correction. I believe the fundamentals of the company remain strong although the liabilities with rising interest rates may be a cause for concern.
I believe the current scenario presents an opportunity to short the stock. Based on the head the shoulder pattern, the price is expected to drop to $110-$115 range.
I believe the current scenario presents an opportunity to short the stock. Based on the head the shoulder pattern, the price is expected to drop to $110-$115 range.