Johnson & Johnson (JNJ) Closes Prior Hour Down -0.16%; Breaks Above 20 and 100 Day Averages, Nears 50 Day Moving Average

The Hourly View for JNJ

Last Updated October 8, 2020, 01:010 GMT

Currently, JNJ’s price is down $-0.22 (-0.15%) from the hour prior. JNJ has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Johnson & Johnson Daily Price Recap

The back and forth price flow continues for Johnson & Johnson, which started today off at 147.88 US dollars, up 1.11% ($1.62) from yesterday. The change in price came along side change in volume that was up 5.71% from previous day, but down 7.42% from the Wednesday of last week. Below is a daily price chart of Johnson & Johnson.

JNJ

Johnson & Johnson Technical Analysis

Notably, Johnson & Johnson crossed above its 20 and 100 day moving averages yesterday. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. For another vantage point, consider that Johnson & Johnson’s price has gone up 8 of the previous 14 trading days.

Overheard Around the Web

Here’s what one trader on StockTwits recently had to say in regards to JNJ:

    $ATNM i mean lets not forget… Iomab b positive readout makes this a multi billion dollar cap.. If $ABBV Venetoclax ac225 phase 2 trial makes it to phase 3 ..(which it will)…and lets imagine it makes it thru phase 3 on to approval… Now you are talking 10-20 billion market cap.. And lets dream about $jnj daratumumab. Ac225 trial is good..now atnm has become $regn .. Do we want a buyout? Or go long for the ultimate payout?

    bubbafox