JNJ trade ideas
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
JNJ Elliot Wave Setup [Daily]JNJ Elliot Wave Setup
Wave 1 : 133.65 - 151.5 (17 days , $17.85)
Wave 2 : 151.5 - 142.5
Base formed in Wave 2 last 4-5 days ,retraced upto 0.5 levels of Wave 1
Keeping 140 as Stoploss ( 0.618 levels) we can enter above 145 for a initial target of $17 ( Wave 1) for a approximate period of 18 days (around December 20th)
Keeping 160 as a trailing stoploss we can initiate a target of 1.62x of Wave 1 amounting to 145 + (17 * 1.62) approx. $170
Reward 170 - 145 = $25
Reward 157 - 145 = $12
Risk 145 - 140 = $5
R:R = 1:5
or
R:R = 1:2
In my view its a good setup , would be happy to hear your insights on this
