Johnson & Johnson extends the uptrend,1 Price has been trending higher for months with repeated, orderly pauses
2 Each consolidation formed at a higher level and resolved to the upside
3 The latest push was steeper, increasing the chance of another pause
4 So far, pauses have looked constructive rather than distributive
5 Silent Flow is active and confirms the broader state, not the timing of the next leg
6 Scenario A is consolidation at higher levels before continuation
7 Scenario B is a clean drop back below the last breakout zone, forcing the market to re prove strength
Johnson & Johnson
No trades
What traders are saying
JNJ at the best possible place to buyJNJ has recently been through a sharp correction in its price and currently, it is trading at $160.39, so when we check the charts on the weekly timeframe we can see that the price has previously taken support from this exact point and has shot up every time, additionally the price has also tested and bounced back from the 200 EMA on the weekly timeframe and there's more to it, the price has formed somewhat of a weakish hammer candle on the weekly timeframe, thus giving my bullish conviction a triple strength.
TLDR: If we check the weekly chart we will find the price taking support from an important zone, 200 EMA, and forming a hammer candle.
Coming to the hourly timeframe here you can see the price is following a trend line very meticulously and thus I will be waiting for a breakout and after that I will look for a retest as shown with the ghost candles after the price retests the important zone I will switch to the 15 minute timeframe and look for a long opportunity.
Hope it helps.
Happy Trading.
JNJ - A Buy Opportunity
My chart tells that there is a low risk buy opportunity on JNJ.
Buy price 143.75
Stop Loss 141.33 ($2.42 only)
First target 147.67
Second Target 150-151
Third target 155-157
The first target is very achievable. So with a buy quantity of 300 the risk is only under $750 and the profit on reaching first target is $1200.
Idea published for my reference.











