Johnson & Johnson’s 5 Day Up Streak Comes to an End

The Daily View for Johnson & Johnson

  • At the moment, JNJ’s price is down $-0.15 (-0.09%) 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.
  • 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 and 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 time of this writing, JNJ’s price is down $-1.06 (-0.64%) 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.
  • As for the trend on the daily timeframe, we see the clearest trend 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