JNJ Buy Long on Strength
JNJ fundamentally is a cross between Big Pharm and Consumer Staples
Recent Earnings were solid not spectacular but the latter is not expected here.
Technically, JNJ climbs higher without much volatility, At the moment it
is rising in a small cycle within the supertrend. Strength is increasing
and some bearish momentum is exhausting. This is a low-beta stock and it
does not react much to the larger broad market. I see this as a good time
for a LEAP option for early 2024 at a strike 15% above the current price.
Recent Earnings were solid not spectacular but the latter is not expected here.
Technically, JNJ climbs higher without much volatility, At the moment it
is rising in a small cycle within the supertrend. Strength is increasing
and some bearish momentum is exhausting. This is a low-beta stock and it
does not react much to the larger broad market. I see this as a good time
for a LEAP option for early 2024 at a strike 15% above the current price.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.