Technical Pulse: Johnson & Johnson January 7, 2020 381


The bullish sentiment for Johnson & Johnson (US: JNJ) is especially strong after it breaks the main resistance of 144.98 in 20th Dec 2019. Based on the technicals, the stock will continue to rally beyond 150.00.

  1. The break above 144.98 in Dec 2019 has propelled the stock in a renewed bullish trend by forming a series of higher highs and higher low.
  2. Bullish flag formation indicates that there’s a possibility of a continuation bullish sentiment.
  3. Bullish pin bar rejecting the 23.8% of the Fibonacci retracement of 129.70-147.84 and the demand zone indicates a strong bullish sentiment ahead.
  4. Volume indicates renewed buying action after it shows a rebound.
  5. Both 22 and 50 SMA crosses above the long term 200 SMA, signify a strong continuation of the bullish trend.

*Timeline of the technical call for JNJ is between 1-2 weeks.

*The resistance level at 144.98 remains a strong resistance and should it be broken; the confidence of a bullish rally will be ensured.



Bollinger bands

Standard deviation = 2

Red dotted line = Upper Bollinger band

Blue dotted line = Middle Bollinger band

Green dotted line = Lower Bollinger band

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