JOHNSON & JOHNSON: TECHNICAL ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL STOP |
| Entry Point | 156.80 |
| Take Profit | 153.00 |
| Stop Loss | 158.00 |
| Key Levels | 153.00, 157.50, 158.00, 159.00, 159.30, 163.00, 164.00 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 159.30 |
| Take Profit | 163.00 |
| Stop Loss | 157.50 |
| Key Levels | 153.00, 157.50, 158.00, 159.00, 159.30, 163.00, 164.00 |
Shares of Johnson & Johnson, one of the leading retail holdings, are trading at 158.00.
On the daily chart, the price is correcting, holding below the support line of the Triangle pattern with dynamic boundaries of 158.00–164.00.
On the four-hour chart, the quotes left the formation; if the reverse test of the passed support line of 159.00 is completed according to the standard scenario, the decline will continue to the December low of 153.00. If the asset returns to the pattern, global growth may reach this year’s high of 163.00.
Technical indicators are weakening the sell signal against a correction: the EMA fluctuation range on the Alligator indicator is directed downward, and the AO histogram forms upward bars below the transition level.
Trading tips
Short positions may be opened after the price declines and consolidates below 156.80, with the target at 153.00. Stop loss – 158.00. Implementation period: 7 days or more.
Long positions may be opened after the price rises and consolidates above 159.30, with the target at 163.00. Stop loss – 157.50.
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