JNJ trade ideas
NYSE:JNJ Johnson stock price forecast, Buy Breakout, Target 226.Johnson & Johnson (NYSE: JNJ)
Trade : Buy Breakout
Entry : 158
Target : 226.31 (68.31, +43.23%)
Stop : 145 (-13, -8.23%)
Posted on Sunday, December 13, 2020
Note : Johnson & Johnson stock price hasn't moved for a long time. Stocks like this, once they begin to move, often show very big moves. Not sure yet, but JNJ stock seems to be preparing for a rise. It would be better to find opportunities to buy when the price break out 158.0. If the prediction is right, resistances could be 158, 182.60 and 226.31. Supports could be 146.71 and 133.28. If they have been preparing something very big, there is a possibility that their stock price could rise over 270 level.
Inverse Head and Shoulders Ascending TriangleJNJ has been struggling for quite a while..
Tried to break from a V bottom earlier this year...formed a long range that is almost looking like a rectangle..H&S noted recently and shoulders/.head marked with stars. Price must break neckling with an uptrend for pattern to be valid.
Neckline is 151.40/Right shoulder is 144.75/Left shoulder is 142.95/Price has broken neckline but not positive a clear uptrend is in place yet..you be the judge..
Possible stop below 147, so fairly close by..
Not a recommendation..
The Head and Shoulders Bottom, sometimes referred to as an Inverse Head and Shoulders, is a reversal pattern that shares many common characteristics with the Head and Shoulders Top, except it is considered bullish verses bearish and can signal a trend reversal..
As a major reversal pattern, the Head and Shoulders Bottom forms after a downtrend, with its completion marking a change in trend. The pattern contains three successive troughs with the middle trough (head) being the deepest and the two outside troughs (shoulders) being shallower. Ideally, the two shoulders would be equal in height and width. The reaction highs in the middle of the pattern can be connected to form resistance, or a neckline.
JNJ - Elliottwave analysis - 3rd wave up BUYJNJ - It seems completed 1st subwave of 3rd wave up and expected to coming down in 2nd subwave correction, which probably finishes near 149-146 zone. Buy with stop level below 142.89 for target of higher high above 165 as the whole impulse wave up from 135 level.
Give thumbs up if you really like the trade idea.
Technical outlook: JNJ bullish scenario:Technical outlook:
JNJ bullish scenario:
We have technical figure Triangle in US company Johnson & Johnson (JNJ) at daily chart. Johnson & Johnson is an American multinational corporation founded in 1886 that develops medical devices, pharmaceutical, and consumer packaged goods. Its common stock is a component of the Dow Jones Industrial Average and the company is ranked No. 37 on the 2018 Fortune 500 list of the largest United States corporations by total revenue. The Triangle has broken through the resistance line at 09/12/2020, if the price holds above this level we can have possible bullish price movement with forecast for the next 13 days towards 158.15 USD. Our stop loss order should be placed at 143.06 USD if we decide to enter this position.
Fundamentals:
- Mexico could order an additional 22 million doses of coronavirus vaccine from Johnson & Johnson’s Janssen unit under a memorandum of understanding signed this week, Deputy Health Minister Hugo Lopez-Gatell said on Tuesday.
Heading toward 52 week highs?JNJ has been in a range for over a year now but looks to be picking up some momentum. Not sure how the vaccine news will play out but we already know something is coming. Our long position was tested around thanksgiving but thankfully we held. A completion of this upwave should hopefully take us to 155-156 area next
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JNJ - Elliottwave analysis - C of ABC zigzag up JNJ - It is expected to be in C (or bigger 3rd) wave up from current level. The 1st subwave of C is about to finish and correct down in 2nd subwave, so buy near 146.40 zone with stop level below 142.86 for the target above 155 or higher level.
Give thumbs up if you really like the trade idea.
JNJ Trade IdeaJNJ nice setup here, looking to break out of this wedge, if it can hold above 150 strong we can see a move towards 153, 160 next. If rejection occurs at the TL resistance here we can see a dip to 148-147. More long on this one with volume starting to pick up as well with a potential 9EMA/21MA cross above POC.
Another vaccine?Hello my friends,
It's been a while since I last posted. I have been monitoring the markets and making sure I can find a good deal before I share it with you all.
So I have been following $JNJ for some time now. $JNJ is currently in their trail 3 of their vaccine efforts and should be concluding sometime this month. You probably think the hype for vaccine is over due to $PFE and $MRNA already taking the spotlight, but I don't believe that is so. $JNJ will be the first vaccine that only requires 1 shot and no follow up. This is a huge difference in many aspects, logistically and personally. Logistically, you ship 50% less product to the same consumer base as the previously mentioned companies. Also consider the vas number of people seeking the vaccine every year. JNJ has a yearly goal of distributing 1 billion vaccines worldwide, every year. Personally, people are already hesitant when it comes to the vaccine. Those who are hesitant are put off by a 2 shot system, it's just not a viable long-term solution. A 1 shot system is what will stick around for years to come. Also, JNJ is a trusted name worldwide so I believe it will be the primary choice for yearly vaccinations. On December 1st we had a random spike in price, I believe their is talk about the vaccine and it must be good news, of course this is just speculation.
TA:
All red lines are points of resistance. When/if the price closes above it, it should leap in price.
First Resistance at 148.72; we are currently struggling with this price for the past few days, if we can close above this, price is free to run up to around 150.00
Other red resistance lines are created from previous highs in price range, with 156.94 being the previous ATH
Orange tread lines: This is the channel we have been bouncing around in for the past few months. I believe vaccine news will allow us to break through this range
Fibonacci retracement is in gray/white. This was built off the dip created in March after COVID. It seems to hold true
TL;DR:
BULLISH FOR 3-6 MONTHS. If vaccine news is positive, JNJ will run up dramatically in price. JNJ is known known for gapping up on good news.
Positions:
Safe bet: Shares, hold until next EPS
Moderate risk bet: Outdated calls for next year around March
High risk bet: End of the month calls, banking on vaccine reveal
