1JNJ trade ideas
Cup and Inverse H&S Handle on JNJLast week I published an idea on an Inverse H&S on JNJ that was good for a $7 rise. When I zoomed way out, saw that the Inverse H&S I was looking at was the handle to a much larger Cup and Handle pattern that has been forming all year. A breakout of the Inverse H&S should send the price over the rim of the cup, signaling another larger breakout, potentially to $166
Possible Cup and Handle on JNJBeen tracking JNJ for a few days now. It's been following pretty predictably after an inverse H&S at the bottom and has been on a smooth ride up since. There's strong resistance at the $140 line, and it has already bounced off of it twice. If it crosses, we could have a potential breakout to $152.
Johnson & Johnson strong buyAs you can see from the weekly chart the price historically respects this strong support and resistance line, the price has now broken this line so we are expecting further bullish movement both from fundamentals and technicals.
This trade is not yet valid, but when it is we will notify our clients in our telegram group.
If you would like to join us on a FREE 2 week trial then message us.