JNJ analysis nearing a peak, 3rd of a 3rd of a 5th wave

This analysis combines channelling, 200 SMA, and Elliott Wave. I noticed a breakout chart by user 'pardis,' and decided to trade the stock. Here is my own analysis of the stock after purchasing a few shares with an entry at 130.98/130.45. There was a breakout around 129, and I looked into the price history to have a better understanding of where the stock possibly is heading towards. Pardis gave an upwards prediction of going to around 139, so I am using an All or Nothing trade strategy, with the intent to use stop losses possibly around end of day, 2R, and 3R. My Elliott Wave analysis shows that there has been a long term since 2015 bullish trend going on, with the stock already in an ending 5th wave movement. The 5th wave seems to also be extended, with the current price action showing it to be in a 3rd of a 3rd wave movement. I predict that this sentiment can last throughout the summer for quite some while, before finally peaking around the levels that 'pardis' had indicated. The stock also seems to have bounced recently off near the 200 SMA during the 4th wave change. This well known stock seems to also be coinciding with some possible peaking action within the indices. As they seem to be going through some impulsive moves upwards, there will likely be a correction sooner or later.
Elliott WaveJNJLONGtrade

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