Johnson & Johnson Does it Again: Heads Up for the 3rd Straight Day

The Daily View for Johnson & Johnson

  • At the time of this writing, JNJ’s price is down $-0.22 (-0.14%) from the day prior.
  • This move is a reversal from the day prior, which saw price move up.
  • 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 an uptrend on the 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

  • At the moment, JNJ’s price is up $0.63 (0.39%) from the day prior.
  • It’s been a feast for bulls operating on the daily timeframe, as Johnson & Johnson has now gone up 4 of the past 5 days.
  • Regarding the trend, note that the strongest trend exists on the 20 day timeframe.
  • Price action traders may also wish to note that we see a doji candlestick pattern on Johnson & Johnson. Given that we see downtrend on the 10 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • Of note is that the 20 and 50 day changed directions on JNJ; they are now pointing up. 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- POSSIBLE PUT OPTIONS – MAY 21ST 0.84 CONTRACTS $150 you may find interesting:

All,In semi recent news it’s very possible JNJ loses the COVID contracts or at least long enough to take a solid tumble. IF it breaks into the red zone it should trigger a loss of a high and break trend downwards again to $145-$132 level. As always wait for conformation of breaking under first level and watch options volume/contracts for changes in price and news. JNJ in a prime spot to be shorted.Also you can always cover with calls.

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