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JNJ

Our trading plan on JNJ Today we will share our view and trade idea on JNJ. First, let's start with the Weekly chart, so we can make an idea of the big picture: Here, we can see the price inside a huge ascending channel. The price reached the upper trendline, and we saw a clear rejection there. Now the main conclusion of this is: -If the price is not able to break above the ascending channel, we can expect more bearish pressure -If the price breaks above the ascending channel, we can expect more bullish pressure As we are not interested in taking short positions on stocks. Let's see how we plan to trade the bullish scenario in case it happens. -On the 1H chart, we can see a clear corrective pattern on the edge of the Weekly ascending channel (ABC structure). Corrective patterns are continuation structures that tend to continue in the direction of the previous trend once we have a final structure breakout. -The Current corrective structure is supported on a key zone. which is an important level to pay attention to. -IF the price breaks the green line, we will consider that a confirmation of the current view, we plan to open positions towards the Final target, and we will protect our setup if the price reaches the first Fibo Extension. Our stop loss will be set below the structure. The risk-reward ratio we are looking at here is 2.4. and the expected duration of this movement could be from 3 to 5 months.
NYSE:JNJ
by ThinkingAntsOk
5
New Bullish trend for Johnson&Johnson or... ?JNJ was made beautiful double bottoms where later than is made breakthrough resistance line and now he's back to testing. Setups what needs to be looking for is if the price bounce and go up, or if some correction will happen to us, ABCD pattern looking pretty interesting... If JNJ will rebound from support line, price target what we are will looking for is approx. at 186 or more if JNJ will give us ABCD patterns. Market now is in very hot situation where we will see who is gonna win at this moment, bulls or bears. Thank you for reading, feel free to leave like or comment if you like my analysis and work :)
NYSE:JNJ
by kova137