Johnson & Johnson Stock Daily AnalysisHello everyone, as we all know the market action discounts everything :)
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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.
