Johnson & Johnson (JNJ) Closes Prior Hour Down -0.17%; Moves Up For the 2nd Day In A Row, Nears 50 Day Moving Average, Crosses 50 Day Moving Average

The Hourly View for JNJ

Last Updated October 9, 2020, 02:010 GMT

Currently, JNJ’s price is up $1.57 (1.06%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 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 came into today up 0.68% ($1.01) from the open of the previous day, marking the 2nd day in a row it has gone up. This move happened on lower volume, as yesterday’s volume was down 23.86% from the day before — and down 36.99% from the same day the week before. Below is a daily price chart of Johnson & Johnson.

JNJ

Johnson & Johnson Technical Analysis

First things first: Johnson & Johnson crossed above its 50 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Or to view things another way, note that out of the past 14 days Johnson & Johnson’s price has gone up 8 them.

Overheard Around the Web

Over on StockTwits, here’s an example of what they’re saying about JNJ:

    $JNJ $TDOC will have a strong close. Take a look at Evoke Pharma EVOK as Bausch is looking to purchases Evoke Pharma’s Newly approved Gimoti to add to their Gastro line of products. Goldman Sachs Group Inc. acquired a new stake in Evoke Pharma Inc (NASDAQ:EVOK) during the second quarter, according to the company’s recent filing with the Securities. The institutional investor acquired 35,174 shares of the specialty pharmaceutical company’s stock, valued at approximately $125,000. Goldman Sachs Group Inc. owned about 0.14% of Evoke Pharma as of its most recent filing with the Securities and Exchange Commission.
    Marshall Wace LLP bought a new stake in shares of Evoke valued at about $139,000. Several new Institutional investors are starting to purchase shares of Evoke.
    HC Wainwright reissued a “buy” rating a $10.00 price target on Evoke Pharma in a research report, ValuEngine raised shares of Evoke Pharma from a “hold” rating to a “buy” rating $10.00 price target.

    Mungus1