JNJ: another fallen giant

JNJ is yet another giant trading under the 200SMA.
Even though we had a strong earnings beat last week JNJ was not protected from the dip.
When the inevitable bottom is formed, I will be looking at these large caps under the 200 for bargain buys.

Hard to say what the near term status is for JNJ , following that of the market.
I would be looking for buys in the $122 range.
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