Is Momentum Changing for Johnson & Johnson? Price Just Crossed Above Its 20 Day Moving Average

The Daily View for Johnson & Johnson

  • Currently, JNJ’s price is up $0.64 (0.39%) from the day prior.
  • Johnson & Johnson has seen its price go up 12 out of the past 14 days, thus creating some compelling opportunities for bulls.
  • From a daily perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 day timeframes.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on Johnson & Johnson. Given that we see downtrend on the 20 and 10 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Johnson & Johnson’s hourly price chart is shown below.

JNJ

The Daily View for Johnson & Johnson

  • Currently, JNJ’s price is down $-1.06 (-0.65%) from the day prior.
  • This is the 2nd day in a row Johnson & Johnson has seen its price head down.
  • As for the trend on the daily timeframe, we see the clearest trend on the 50 day timeframe.
  • Most noteworthy in the world of moving averages on the daily chart is that the 20 day moving average has been crossed, so that price is now turning below it. The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Below is a daily price chart of Johnson & Johnson.

JNJ

Featured Johnson & Johnson Idea From TradingView

Below is a trading comment entitled JNJ – STOCKS – 26. APR. 2021 you may find interesting:

Welcome to our weekly trade setup ( JNJ )!-4 HOURBullish price action.DAILYPossible turnover and pressure towards previous highs.WEEKLYExpecting more bullish price movement.-STOCKS SETUPBUY JNJENTRY LEVEL @ 164.20SL @ 160.79TP @ OpenMax Risk: 0.5% – 1%!(Remember to add a few pips to all levels – different Brokers!)Leave us a comment or like to keep our content for free and alive.Have a great week everyone!ALAN

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