JNJ: an amazing long opportunity
~Every time JNJ has gone overbought on the RSI like it is right now, it has gone up very strongly
~JNJ is trading in a parallel uptrend for the most part since October 2020 (white area) with a few minor outlying price action movements.
^^ Price is touching the long term support line. Confirming the RSI foreshadowing.
JNJ has been coming off a slow moving uptrend and it seems to be slowing down
- JNJ looks to test the previous high
+ Fibonacci extension has reversal at $168.5
+ Bottom of the channel has reversal at $169.87 - $169
- RSI is heading close to oversold
- Price broke through pitchfork so it looks to hit reversal in the next day or so
- If the price high...
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The share price of Johnson and Johnson looks ready to rebound from the major resistance-turned-support area, underpinned by the 23.6 per cent Fibonacci retracement level at 175.61, and resume climbing.
The underlying uptrend appears to be taking the form of a 1-5 impulse wave pattern, as postulated by the Elliott Wave Theory. Thus, the recent correction can be...
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As I said on my last analysis, we have 2 scenario because of the patterns on the graph (Triangle and Falling Wedge) :
Looks like triangle is more to happen, We have breakout of the support line and neckline of pattern.
We have risky buy...
JNJ is currently at the top of the Bollinger bands and as you can see, every time it goes to the top of the band on the daily chart, it usually drifts back down to the 20 SMA. May see a push for 180 as the price action seemed somewhat strong in the morning of 8/20/21, but died off late into the day.
Long overall, bearish in the short term if it doesn't go up on...
Hello everyone, as we all know the market action discounts everything :)
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The Johnson & Johnson stock is having a great Bullish movement right now, In the last week, the stock price has risen from 173.05 and reached 179.47 today. That's more than...
The price broke above the triangle passed through prior all time high.
The measured move of the breakout is $195.
Look to take profit around $185.
Good case - $185
Best case - $195
Stop loss - below $172
How to read my charts?
- Matching color trend lines shows the pattern. Sometimes a chart can have multiple patterns. Each pattern will have...