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Last week I published an idea on an Inverse H&S on JNJ that was good for a $7 rise. When I zoomed way out, saw that the Inverse H&S I was looking at was the handle to a much larger Cup and Handle pattern that has been forming all year. A breakout of the Inverse H&S should send the price over the rim of the cup, signaling another larger breakout, potentially to $166
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Price surged after earnings report was released. Let's wait and see if price is able to break resistance and confirm support & breakout.
Been tracking JNJ for a few days now. It's been following pretty predictably after an inverse H&S at the bottom and has been on a smooth ride up since. There's strong resistance at the $140 line, and it has already bounced off of it twice. If it crosses, we could have a potential breakout to $152.
JNJ shares are gaining as the sector is ripping. A retest of prior highs could be in order. Bullish trading activity suggests the momentum will continue.
The structure may turn out to be a flat. mid-term downside before the trend resumes to the upside
Forming a nice ABCD Pattern. Looking to start a new position. Stop loss and price target identified on the chart.
JNJ,TOKYO: Johnson & Johnson
Johnson & Johnson Announces Offer to Acquire Ci:z Holdings Co., Ltd.
It hits the support today and then went up with nice looking white candle with nice long bottom tail.
Overall still uptrend.
It is crystal clear from this chart and various types of analysis that JNJ is in a zone that will probably lead to at least the 147 range. We can see a shaded channel that the stock has been ascending in for several months. We can also see that volume has been steadily increasing at a sustainable pace. From the wave count (please study Elliot Wave theory if you ...
Looks bullish despite last 2 days of selloff. I'd like for this to hold this channel.
JNJ remains strong and continues to ride a bullish trend.
As you can see from the weekly chart the price historically respects this strong support and resistance line, the price has now broken this line so we are expecting further bullish movement both from fundamentals and technicals.
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it is for mid term..
red horizontal lines are targets..
take your profits and use stop loss and sell some percentage at every target to get good average profit.
JNJ forming a nice bull flag on the Daily, will be keeping an eye on the opening tomorrow
Looking for a slight retracement. Strong divergence on MACD and MACD histo.
Chart used for my own historical reference. Any input is welcome.
Correction now, then Bullish!