Wolfe wave repeat pattern from the end of last yearExpect a short term bearish move.
Once that reverses, jump aboard for primary trend up into next year.
JNJ trade ideas
$JNJfundamentals:
from the start of 2013 to the present...
price: +49.96%
revenues: +7.42%
on the other hand, free cash flow is down from 10.105B in Q3, 2010 to 7.974B for Q2, 2014
technicals:
the monthly Williams %R hasn't been below -80 since mid-late 2010.
this is indicative of positive pressure.
J&J: Heading to sideways range ceiling!-After breaking below 90.00 support area and heading sharply lower, shares managed to rebound strongly back above that broken level
-The price has recently retested that level, before bouncing confirming the level as a new support.
-Rising volume on the rebound
-price is trading within a sideways range since august
I am looking for a move towards 94.40 and 96.00 resistance levels.
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JNJ Bottom inWait for Monday's close to confirm bottom. Stop loss is Friday's low or the candle before the hammer highlighted (~87.70). I think the market is done pricing in "taper."
