Johnson & Johnson (JNJ) Price Near $148.87; in a Downtrend Over Past 14 Days, Moves Up For the 2nd Consecutive Day, is Inching Close to 50 Day Average

The Hourly View for JNJ

Last Updated September 15, 2020, 23:13 GMT

Currently, JNJ’s price is up $1.81 (1.22%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as JNJ has now gone down 5 of the past 5 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50 and 100 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Johnson & Johnson Daily Price Recap

Johnson & Johnson closed the previous day up 0.39% ($0.57); this denotes the 2nd consecutive day an increase has occurred. The price move occurred on volume that was up 11.21% from the day prior, but down 36.38% from the same day the week before. Here is a daily price chart of Johnson & Johnson.

JNJ

Johnson & Johnson Technical Analysis

Notably, Johnson & Johnson is now close to its 20, 50 and 100 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. Or to view things another way, note that out of the past 10 days Johnson & Johnson’s price has gone down 6 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

Overheard Around the Web

Here’s what one trader on StockTwits recently had to say in regards to JNJ:

    $CAPR You heard it, big partnership for dmd is coming. This will be huge. Huge cash upfront and split future royalty 60/40. There are company lining up to partners with them $jnj is struggling with their dmd program. Time for old lovers meet up agains.

    I will focus my research on the partnership angle.

    Today conference was clears. Exosomes is the future of medicine delivery. We are from the ground up. You bet lots of millionaires investors will gobble up the float.

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