After the price bounced off the resistance level, we wait for a return to the support level. We expect a reaction at the support level in the form of a candlestick pattern or a technical analysis formation, such as a wedge or triangle. When an opportunity arises, we take a long position. We set the stop loss below the support, and the take profit at the next resistance
Johnson & Johnson broke below a decade-old trendline after recording the highest sell-off volume in its history and remained suppressed below the 50-month Moving Average. Technical resistance will be at play and the probability of breaking higher is pretty low unless some fundamental forces come into play.
The entry price is a bit pessimistic but such a huge sell...
I think technically its overbought but still can go up so I'm going to do vertical put strategy for it in order to close short put in upper line of stop loss and take profit further in correction
Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📈 JNJ has exhibited an overall bullish trend, trading within the ascending wedge pattern outlined in blue. It is presently nearing the lower boundary/blue trendline.
At present, JNJ is undergoing a correction phase and is trading within the descending red channel. It is...
Neckline of H&S pattern was broken.
JNJ formed a 1-2-3-4-5 Motive Wave after the neckline was broken. Corrective Wave being formed now. A wave is over. B wave to form this week. C wave may go up to the upper resistance level. Thereafter, JNJ to begin a long downtrend.
NYSE:JNJ is not an exception to the falling share prices due to the macro-economic environment. Despite this company’s Q3 results beating the wall street estimates, the stock price keeps falling. We are expecting a rebound soon as confirmed by the Nedium indicator.
This trade is quite aggressive now but the conservative traders can wait for price action to show...
I was bullish on JNJ until I saw this today. We have broken through a long time support. With a strong Heikin Ashi candlestick. I am waiting to see if there is substantial volume at the close and then I would enter some maybe week out puts. The green line would be my profit target for JNJ. #jnj #puts
As you can see here on the daily time frame, we have respected this level on the weekly time frame support level. I am watching to buy at the close of a strong green heikin ashi candle stick bounce off of this zone with high volume. Keep your charts simple! As always, thank you for watching and reading my analysis.
21st Oct 2023,
Break below long term ascending support, went lower to touch $150 (Another support) level before rebound.
Watchout, break below $150 again, will send JNJ lower.
Looking at the chart dating back 5 years for NYSE:JNJ , there is a decent entry point around $150. Looking for a slight drop in current price to enter. Entry point will follow along the 5 year trend line with a support level as well.
I am not sure but I think JNJ had earnings earlier today.
Looks like a flag may have formed that is neutral until broken.
Short interest is less than 1%.
Long tailed spinning top today.
No recommendation
JNJ touched Support (1) at 153.20, a level holding since June 1st.
Along with Support (2) at 150.10 are the major buy levels for the long term.
The medium term Resistance is the MA200 (1d).
Trading Plan:
1. Buy on the current market price.
2. If Support (1) breaks, buy on Support (2).
Targets:
1. 162.00 (expected contact point with the MA200 (1d)).
2. 161.00...
Since 2022 JNJ is trending sidewards, testing the zone from $155 to 150$.
We are close to this zone, so a potential buy opportunity is coming.
Buy zone between $150 and $155, Target is $180 which is still under a fair price of $200
Stop should be near $145, if this break, the price could fall further down near $130 or worst case to $110 if the momentum is to big.
hi Traders
JNJ looks pretty bearish now.
We can observe a head and shoulders pattern on JNJ.
The breakdown is happening right now so it's still early to take a short position.
Take profit and final target are shown on the chart.
If the price bounce back and we get a bearish retest , it would be also great opportunity to add more into the short.
Good luck
Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
Today we are going to go over a practical example on #JNJ , but you can apply the same logic / strategy on any instrument.
Feel free to ask questions or request any instrument for the next episode.
📚 Always remember to follow your trading plan when it comes to entry, risk...
