Johnson & Johnson is Up for the 5th Day in a Row

The Daily View for Johnson & Johnson

  • At the moment, JNJ’s price is up $0.4 (0.25%) from the day prior.
  • This is the 3rd day in a row Johnson & Johnson has seen its price head up.
  • If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend 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 20 and 10 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. With that said, traders should also note the downtrend on the 20 and 10 daily candle timeframe, so the meaning of the candles may require further exploration.
  • 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

  • Currently, JNJ’s price is up $3.79 (2.33%) from the day prior.
  • Johnson & Johnson has seen its price go up 5 out of the past 5 days, thus creating some compelling opportunities for bulls.
  • Regarding the trend, note that the strongest trend exists on the 50 day timeframe.
  • 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 Breakout Play on Johnson & Johnson you may find interesting:

Johnson & Johnson just posted better-than-expected EPS data for Q1. Meanwhile, the company’s shares continue to strengthen above the 50-day MA (in green). A potential breakout above the clearly visible Bullish Pennant would signify mounting bullish momentum, which can be taken advantage of. Bulls can catch a potential upswing towards the major resistance level at 170.00, with the potential for further gains above.

Trendsharks