Johnson & Johnson Update: Wave 5 Extension in Progress

As discussed back on June 09, Johnson & Johnson was expected to continue higher after completing a complex wave 4 correction. That scenario played out, with price pushing back to all-time highs.

A projected wave 5 now appears to be in progress, with further upside potential as a lower-degree five-wave bullish impulse unfolds.

The next upside area to watch is 260–280, with the bullish structure remaining valid as long as price holds above 240.

Highlights:
Wave 5 in progress
Five-wave bullish impulse unfolding within wave 5
Target zone: 260–280+
Bullish view remains valid above 240