Johnson & Johnson (JNJ) Closes Prior Hour Down -0.29%; Pin Bar Pattern Appearing on Chart, Moves Up For the 4th Consecutive Day

The Hourly View for JNJ

Last Updated October 13, 2020, 02:020 GMT

At the moment, JNJ’s price is up $1.56 (1.03%) from the hour prior. JNJ has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 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 0.58% ($0.87) from the open of the previous day, marking the 4th consecutive day it has gone up. The price move occurred on stronger volume; specifically, yesterday’s volume was up 42.73% from the day prior, and up 11.65% from the same day the week before. Here is a daily price chart of Johnson & Johnson.

JNJ

Johnson & Johnson Technical Analysis

The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 6 out of the past 10 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

Overheard Around the Web

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

    $HTBX if Jeff is a timing genius… the iron is PIPING HOT 🔥 with $AZN and now $JNJ pausing their trials. Antibody vaccines dropping like flies without T-cell support… $MRNA and $INO never made it to the finish line with their tech alone… Jeff knew what he was doing with the Moderna tweet in July, it is time to fly!!!!

    The most bullish.

    https://www.statnews.com/2020/10/12/johnson-johnson-covid-19-vaccine-study-paused-due-to-unexplained-illness-in-participant

    mickhate