Johnson & Johnson Just Breached This Major Moving Average Level

The Hourly View for Johnson & Johnson

  • At the moment, JNJ’s price is down $-0.03 (-0.02%) from the hour prior.
  • This is the 2nd hour in a row Johnson & Johnson has seen its price head down.
  • As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe.
  • 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 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • Of note is that the 50 hour changed directions on JNJ; it is now pointing up. The moving averages on the hourly 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 time of this writing, JNJ’s price is up $1.6 (0.97%) from the day prior.
  • This is the 2nd day in a row Johnson & Johnson has seen its price head up.
  • Regarding the trend, note that the strongest trend exists on the 20 day timeframe.
  • Most noteworthy in the world of moving averages on the daily chart is that the 50 day moving average has been crossed, so that price is now turning above it. 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 going for ATH retest you may find interesting:

JNJ is in an ascending triangle pattern. Uptrend has been challenged a couple times and has held its ground every time including its most recent test this past week. This will keep climbing until it retest ATH later this month.

cameron11