JNJ’s Price May Be in A Downtrend, but RSI Suggests Caution

The Hourly View for Johnson & Johnson

  • Currently, JNJ’s price is up $0.23 (0.14%) from the hour prior.
  • This is a reversal of the price action on the previous hour, in which price moved down.
  • Regarding the trend, note that the strongest trend exists on the 20 hour timeframe.
  • The moving averages on the hourly 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 $-0.42 (-0.26%) from the day prior.
  • The daily chart shows that Johnson & Johnson has seen 2 straight down days.
  • As for the trend on the daily timeframe, we see the clearest trend on the 50 day timeframe.
  • 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 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.
  • Divergence alert: Trend in JNJ’s price and its RSI are diverging. JNJ’s price is declining slower than its RSI.

Below is a daily price chart of Johnson & Johnson.

JNJ

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