JnJ continues upward trendHey everyone,
I think JnJ will turn back upwards near the arrows, which means right away or at the 50/61 Retracement, but please wait for confirmation signals.
Chickou Span crosses the stock, which is negative, Tenkan-Sen is above Kijun-Sen, which is good and the cloud is rising, which is good too.
As i said, you should wait for a reversal confirmation, than my regular goal would be 162 USD.
Much fun with that trade!
Leave a follow :)
JNJ trade ideas
JNJ IH&S Neckline PushJNJ is looking healthy to push higher. The 8dma/50dma crossed today, a historically good sign for JNJ. There seems to be an IH&S forming on the daily, with JNJ nearing neckline level at 150. The MACD is beginning to converge quickly as well. With the recent ER beat, looks good to make new highs.
Johnson & Johnson Looking for the next bull move Hi traders:
JNJ, is shaping up to a great opportunities for long.
We have price impulse to the upside, and now forming a nice correction structure channel.
I am patiently waiting for the last bit of price action to complete to give me extra confluence on a long.
I would like to see price correctively go lower once more and complete the smaller structure within the larger correction.
That would give me the best Risk/Reward to go long to the recent tops.
Alternatively, if price begin its bull run form here, then I would wait for breakout of this larger structure and look for continuation correction in the lower time frame.
Thank you
Johnson & Johnson Will FallJNJ has, like many of the individual stocks I have recently covered, also formed a long-term rising broadening pattern. But whereas with, say, Amazon, which is at the top of its broadening pattern's range, Johnson & Johnson looks to have completed that last stop in January of 2018.
After the final touch on the bottom, in this case March of this year, the price action generally follows the arc.
PT still 157 JNJ is next. Entered this at .59. Down 8$. Should have a nice run up during the week for running. The good thing is that the call is for 7/24 so theta won't crush us. PT is 157. Closed above the resistance and looks like it's ready to break out of its down trend. Will sell for profit Wednesday. Don’t want to hold through earnings.