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Tecnologia_Financiera
Nov 17, 2017 8:39 PM

Wedge pattern on JNJ Long

Johnson & JohnsonNYSE

Description

Johhson & Johnson stock is forming a falling wedge pattern that hasn´t break yet. The security just reached the 100 period EMA, which oftenly act as a support or resistance level. Stochastic RSI is showing an oversold signal. If the wedge breaks up, we could go long with the stock looking for a target around $143.5, and protect the position with an stop loss if it breaks the support level, marked by fibonacci retracement levels around $136
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