Based on RSI34 weekly div and final trend line breakout look forward for further downside price action to 80-100 levels.
No more soap, baby! - Sell Johnson & Johnson mid-term setup
I am taking a short JNJ trade set up. Monthly is bullish. No sign of topping yet except we can see price is pulling back. Weekly is at resistance of Kijun and prices are consolidating under. Daily is bearish and once this support gives me we can tag 200 sma and possibly lower at highlighted support. Earning are next week. Trade carefully
JNJ is very strong company but recently experiencing negative rollover with very sharp negative money-flow divergence. There are also insider selling as well.
We like to short it from current level & our first target is 112.73
On the option side we are looking for Jan17- 120 put currently trading at $3.90
"You can check our detailed analysis on JNJ in the...
the Ascending triangle is a bullish chart pattern used in technical analysis that is easily recognizable by the distinct shape created by two trendlines. In an ascending triangle, one trendline is drawn horizontally at a level that has historically prevented the price from heading higher, while the second trendline connects a series of increasing troughs....
01/21 - 01/29 strong bullish move.
01/04 gap + 01/28 spinning top + 02/03 re-test
--------------- my plan-----------------------------
If the price goes above my entry line, watch for a intraday bullish trade.
If the price moves below my stop line, the odds are gone. Take JNJ off the list.
If the price moves below the stop line but then form something else...
