Johnson & Johnson (JNJ) Closes Last Hour Down $-0.29; 3 Day Down Streak Snapped, Breaks Above 20 Day Average

The Hourly View for JNJ

Last Updated October 16, 2020, 23:13 GMT

At the time of this writing, JNJ’s price is up $0.64 (0.43%) from the hour prior. This is the 2nd hour in a row JNJ has seen its price head down. As for the trend on the hourly timeframe, we see the clearest trend on the 50 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 end of a 3 day negative run has come for Johnson & Johnson, which finished the day prior up 0.62% ($0.91). As for how volume fared, yesterday’s volume was up 1.54% from the previous day (Wednesday), and up 8.39% from Thursday of the week before. Here is a daily price chart of Johnson & Johnson.

JNJ

Johnson & Johnson Technical Analysis

Moving average crossovers are always interesting, so let’s start there: Johnson & Johnson crossed above its 20 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 6 out of the past 10 days.

Overheard Around the Web

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

    $JNJ $MSFT $NFLX $NVDA

    JNJ- has a potential cup and handle set up. Could possibly see 150s again in mid term if it doesn’t fall below 145s.

    MSFT – interesting chart formation with a downside at 210, 216 level. However, the xbox is coming out soon and it seems to show a nice flag formation. Consolidation above 220 I can see a push to 230 and even 240s mid term. Must be above 220.

    NFLX – nice set up and above 550 consolidation can see this jumping to 560 today or more and potentially filling a bullish gap into 580-600 top level resistance. Very risky as earnings is coming but these are a high risk reward play. Stop loss would be low 530s.

    NVDA – still a good spread play here as it held support around 555 many times. Look to see this blast pass 580 and 600 soon.

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