This triangle has broken to the upside. Top line is flat and bottom line slopes up. Overbought with RSI set on 70. Mine is set on 80. Target for triangles are often measured using the back, or the wide end. T1 has been met. Possible pullback on the horizon. Unhealthy looking candle today similar to a shooting star or even a gravestone Doji. This candle has a long top wick and today's high is at the top of that wick. The bulls were unable to hold that high for now and the bears beat them back down.
Thanks for the chart Lauralea...just a little two cents from me...so the shooting star does appear (Nison Candle Scanner) on the daily and weekly charts and a pattern like a hanging man on the yearly. That surely supports your charting commentary. Also, fundamentally supporting this is the law suit on their books for failing to warn consumers about the CANCER RISK (adding asbestos!!!) IF USING THEIR BABY POWDER!! The recent big news, fundamentally, JNJ is offering their stock holders to swap none, some, or all of their JNJ stock for Kenvue's (formerly Johnson & Johnson’s Consumer Health business who completed its initial public offering (“IPO”) in May 2023 and is a stand alone company now) stock. Barron's says its a good deal for investors. I don't know...just saying. Not certain if this would help or hurt JNJ???
lauralea
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@mjstach1,Candles often do mean a hole heck of a lot, especially not just 1 candle. I only meant to comment on the daily candle above. Candles always form a bottom wick eventually and weekly or monthly candles mean more than a daily candle. Great and strong stock and a good long investment for most, I guess i
look at the best time to buy something too often, (plus I am a Capricorn/lol) so ignore me! LOL But the green long upper wick on this green daily candles just makes me stop and think is all. But goods news or earnings etc can shoot price up in spite of that long wick on top. I do not even know what price did after than top wick with little or no bottom wick cos i did not look but to me that is a scary candle. The high of that day is the top of the wick, but the bears won the trading session in this picture and is why it an ominous candle//good luck (o:
mjstach1
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@lauralea, thank you as always...i guess no fundamentals allowed...😢
mjstach1
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@mjstach1, It's so much "cleaner" your way...can't help but feel having one arm tied behind my back... But...I know you're telling me the strict technical rules without tainting from the fundamentals....not allowed...crap...lol
The recent big news, fundamentally, JNJ is offering their stock holders to swap none, some, or all of their JNJ stock for Kenvue's (formerly Johnson & Johnson’s Consumer Health business who completed its initial public offering (“IPO”) in May 2023 and is a stand alone company now) stock. Barron's says its a good deal for investors. I don't know...just saying. Not certain if this would help or hurt JNJ???