Johnson & Johnson Snaps a 6 Day Up Streak

The Daily View for Johnson & Johnson

  • At the moment, JNJ’s price is down $-0.24 (-0.14%) from the day prior.
  • This is the 2nd day in a row Johnson & Johnson has seen its price head 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 doji candlestick pattern on Johnson & Johnson. Given that we see an uptrend on the 20 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • Most noteworthy in the world of moving averages on the daily chart is that the 20 day moving average has been crossed, with price now being above it. 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 down $-0.48 (-0.29%) from the day prior.
  • Johnson & Johnson has seen its price go up 4 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.
  • 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.
  • Of note is that the 50 day changed directions on JNJ; it is now pointing down. 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