JNJ is not an exception to the falling share prices due to the macro-economic environment. Despite this company’s Q3 results beating the wall street estimates, the stock price keeps falling. We are expecting a rebound soon as confirmed by the Nedium indicator.This trade is quite aggressive now but the conservative traders can wait for price action to show a low forming because we believe the price can fall lower before the bull run and that's why we have a wide stop loss.
Trade Set up
Entry price: 145.60
Target price: 183.69
Stop loss price: 127.36
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.