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JNJ - Support Confluence Can be Nice BuyHi Guys, the opinions expressed ere are of my own. This is not financial advise and i am not a financial advisor. Okay lets jump right in! This is on the WEEKLY timeframe. Since JNJ is a divi stock, this for me would be long term hold or swing. Indicators: 1. 200 Week moving average (red line) - ABbreviation= (200 "WMA") 2. RSI Historically, as you can see everytime JNJ comes down to the Red line, the 200 Week Moving Average, it has been majority of times a good place to buy. Not only that we are hitting a support line that has held since January 2021. This is confluence, of 2 major supports, adding favor in my opinion to buy here. I would wait for this weeks close on the weekly time frame to gauge at the condition of the candle. But generally, a bottom wick is a good sign and shows buying pressure. The RSI is also in oversold territory. It can be that we go further indicating some more downward pressure. BUT looking at past history, it has always been a good opportunity to buy when RSI goes below the green line i drew. Stop loss for me would be around 5% below the weekly moving average. Ofcourse price action CAN crashes below the 200 WMA like some of the situations in history for example my "eh". But thats why we protect ourselves with stop losses. Anyway, tried to keep this simple. Hope this helps. Let me know what you think! Like, Comment, Follow! Thanks Disclaimer: The ideas expressed here are my own opinion, this is by no means financial advise. I am not a financial advisor. Just a student of the charts expressing!
NYSE:JNJLong
by SafofAllTrades
5
JNJ - 3 Day Timeframe - Area to load up??Hi guys welcome. The ideas expressed on this chart are my own opinions. This is not financial advice and i am not a financial advisor. Im a student of the charts and do this to improve my skills. Anyway, i posted a JNJ chart last week on the Weekly timeframe. Mentioning how it could be a good time to buy some as we are touching up against the 200 week moving average and hitting some major support. This chart is looking at JNJ on the 3D timeframe. Zooming in just a little bit. I will follow this with a daily chart next to zoom in even more. Please note: The current candle on 3D will close on the 24th. So this current move is not yet finished and i believe we could touch the support line again or even wick down below. But as coinciding with the 200 Week moving average on the Weekly timeframe, this if history is any indication generally a good time to get some exposure. (please check the weekly JNJ chart below). So like the previously posted chart on weekly, ive circled in green some instances in the past where it was essentially a good swing trade entry point. It can also be an area to load up for investing since long term trend is up and it being a dividend stock and all....... (this is not financial advise!) For this chart, the story is told in the indicators ive provided. From top to bottom: 1. STOCH RSI - momentum indicator 2. MACD - momentum indicator 3. RSI - supply/demand indicator The RSI to me sticks out the most, as we are below the 20 level and the most "Oversold" we have ever been since March 2020, (coinciding with my weekly chart of the price action going below the 200 wma briefly). To add confluence and support to this idea, i added the other 2 indicators to show oversold momentum areas. And all 3 indicators mimic'd similar patterns to those past instances. The conditions that need to be met simultaneously to buy: 1.on 3D timeframe: 1. RSI below 20 level 2. MACD below 0 level, red bars 3. STOCH RSI below 20 level 4. Price action below 200 dma on 3D timeframe 2. on weekly timeframe: Price action (candles) touching or below the 200 week moving average I like this current area as not only are we touching the 200 weekly moving average, we are hitting some major support. (Check out my weekly chart for more info on this) Make sure to check it out yourself on your charts! Let me know what yall think. Please comment, like, & follow if you liked this analysis. Remember to trade responsibly, to set up your own strategies and to protect yourself with stop loss. Disclaimer: This is not financial advise, i am not a financial advisor. This info is only my own opinion on the matter of TA.
NYSE:JNJLong
by SafofAllTrades
Johnson & Johnson Stock Daily AnalysisHello everyone, as we all know the market action discounts everything :) _________________________________Make sure to Like and Follow if you like the idea_________________________________ The Johnson & Johnson stock is having a great Bullish movement right now, In the last week, the stock price has risen from 173.05 and reached 179.47 today. That's more than 3.7% in 1 week. Both the short-term and long-term trends are positive. This is a very positive sign. We are looking at 2 different Scenarios for the next period of time : Scenario 1 : The price has gone up and reached the resistance zone at 178.51 to 179.17 and its currently above it but it hasn't closed above it yet, That means the market is still moving in a Bullish way but until we have our confirmation we cant say the price is gonna keep going, but all the signs are Bullish After today's candle closes we will have our confirmation and the price will most likely continue his journey up reaching the 180.45 level. Scenario 2 : The price has gone up and reached the resistance zone at 178.51 to 179.17, Here the Bears has a Chance to show some control over the market action, The bulls are testing the Bear right now, And if the Bulls were to fail then the bears will take some control and we will see the price dropping from the resistance zone and its gonna be headed near the support line at 176.57, where a Battle will happen between the Bears and the Bulls and the outcome will determine the movement of the stock for the next period of time. Technical indicators showing this : 1) The Market price is currently trending above the 5 10 20 50 100 and 200 MA and EMA (Bullish sign) 2) The MACD is above the 0 Line showing that the market is in a Bullish state, With a positive crossover between the MACD line and Signal line. 3) The ADX is at 31.68 showing that the market is currently trending, With a positive crossover between DI+ (36.78) and DI- (10.24) Support & Resistance points : support Resistance 1) 176.57 1) 178.51 2) 175.29 2) 179.17 3) 174.63 3) 180.45 Fundamental point of view : JNJ has a Return On Assets of 10.07%. This is amongst the best returns in the industry. The industry average is -32.26%. JNJ outperforms 94% of its industry peers. The Earnings Per Share has grown by a nice 14.55% over the past year. JNJ has an Altman-Z score of 4.59. This indicates that JNJ is financially healthy and has little risk of bankruptcy at the moment. Biden administration officials reportedly plan to recommend booster doses of Pfizer and Moderna’s Covid-19 vaccines to most Americans eight months after they received their second dose. This could Affect the Johnson & Johnson stock as other company's Vaccine such as Pfizer and Moderna is being used far more often and being recorded for giving better result than the JNJ Vaccine . This is my personal opinion done with technical analysis of the market price and research online from fundamental news for The Fundamental point of view, not financial advice. If you have any questions please ask and have a great day !! Thank you for reading.
NYSE:JNJLong
by GabiDahduh
2