Johnson & Johnson Daily Price Recap
Johnson & Johnson is up 1.57% ($2.35) since yesterday, marking the 4th day in a row it has gone up. This move happened on lower volume, as yesterday’s volume was down 10.34% from the day before — and down 4.07% from the same day the week before. Let’s take a look at the daily price chart of Johnson & Johnson.
Johnson & Johnson Technical Analysis
The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Or to view things another way, note that out of the past 10 days Johnson & Johnson’s price has gone up 7 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.
Overheard Around the Web
Over on StockTwits, here’s an example of what they’re saying about JNJ:
$JNJ I can't help but laugh at this. Remember that JNJ management reduced revenue & earnings guidance by 15% for 2020. As a result, the stock… rises from 136 to 153??? WTF?
There is absolutely no reason why this stock should be anywhere near its 52-week high in this economic environment when considering the guidance provided by JNJ management. Also, remember that JNJ DOES NOT intend to make a profit off of a COVID-19 vaccine. While I believe this is very noble of the company, a potential vaccine will have no positive effect on the company's financials.
While I can rationalize a value of JNJ around $135-$140 based on current 2020 guidance & dividend increases, it has no business being anywhere in the 150s.
Good luck everyone, but if I were long JNJ, I'd be getting out and buying back ~15% below current prices and in-line with management guidance.