JNJ trade ideas
Elliott Wave Johnson & Johnson (JNJ)The weekly chart appears to count cleanly enough as a 5 wave advance, so we can suggest an impulse wave is close to completion. If the bull cycle from the 2009 lows are close to ending, then a substantial correction is expected, I would favor at least a move back to the previous 4th wave at 85.00 or lower
JNJ analysis nearing a peak, 3rd of a 3rd of a 5th waveThis analysis combines channelling, 200 SMA, and Elliott Wave. I noticed a breakout chart by user 'pardis,' and decided to trade the stock. Here is my own analysis of the stock after purchasing a few shares with an entry at 130.98/130.45. There was a breakout around 129, and I looked into the price history to have a better understanding of where the stock possibly is heading towards. Pardis gave an upwards prediction of going to around 139, so I am using an All or Nothing trade strategy, with the intent to use stop losses possibly around end of day, 2R, and 3R. My Elliott Wave analysis shows that there has been a long term since 2015 bullish trend going on, with the stock already in an ending 5th wave movement. The 5th wave seems to also be extended, with the current price action showing it to be in a 3rd of a 3rd wave movement. I predict that this sentiment can last throughout the summer for quite some while, before finally peaking around the levels that 'pardis' had indicated. The stock also seems to have bounced recently off near the 200 SMA during the 4th wave change. This well known stock seems to also be coinciding with some possible peaking action within the indices. As they seem to be going through some impulsive moves upwards, there will likely be a correction sooner or later.
Short JNJ: Target Price $95 from $127Ascending triangle target price (JNJ) was reach in summer of last year. Now, 30% correction is coming.
JNJ : Look and buy and hold foreverToday Johnson & Johnson published the results of the last quarter up on the previous year but not better than consensus. the full year has seen an increase over the previous year. The fundamentals are good. We look at how far can this descent for a buy and hold forever. By analyzing the fundamentals, all areesegnate is a good buy for the long term. Supports in the area 117.3 - 112.5 - 109.5 to 106.6
JNJ Top is inMy TopFisherIndicator (dTFI) recently gave a HUGE cluster of signals.
Top is probably in.
Seems like a good short
JNJ Crab Reversal JNJ reversing off of Crab pattern. It is hovering over the pervious high of 125.9. If it breaks further, next stops would be 20 MA, -> 0.382 retracement and then 50 MA
Double Top Resistance Approaching Quickly On $JNJ.Healthcare products maker Johnson & Johnson (NYSE:JNJ) is nearing a double top resistance point on the stock chart. The level is $126 and is the former all-time high on the stock from July 2016. A double top on the stock chart is a technical term that tells investors there will be heavy selling at that point. It likely will be tough for Johnson & Johnson to go higher in the near-term. Often, investors and traders will sell double tops short, profiting when the stock pulls back. That is what I will be looking to do if Johnson & Johnson hits double top this week. The stock has run too far, too fast in the last few weeks. In the last month, Johnson & Johnson is up from $111 to $124. For this historically slow moving stock, that is insane.
Follow my trades live right here: verifiedinvesting.com
