Johnson&Johnson (JNJ/NYSE): general analysis
15 August 2018, 13:18
| Scenario | |
|---|---|
| Timeframe | Intraday |
| Recommendation | SELL STOP |
| Entry Point | 129.20 |
| Take Profit | 127.75, 126.25, 125.00 |
| Stop Loss | 130.75 |
| Key Levels | 125.00, 127.50, 129.25, 131.00, 133.00, 135.00 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 131.10 |
| Take Profit | 133.00, 134.50 |
| Stop Loss | 129.50 |
| Key Levels | 125.00, 127.50, 129.25, 131.00, 133.00, 135.00 |
Current trend
Johnson&Johnson stocks are trading near the monthly low, losing 2.38% in the first half of August. The company has applied to the United States and the EU to expand the labeling of the medicine from myeloma Darzalex, which will strengthen the market position of one of the best-selling Johnson&Johnson’s drugs. In the 2nd quarter, revenue from the sale of Darzalex increased by 64% YoY to a record $432 million.
During the last week, Johnson&Johnson fell 1.49% against the decrease in the S&P 500 index by 0.66%.
Support and resistance
Since the beginning of this month, the stocks are in the correction. At the moment, the issuer is testing the "mirror" support of 129.25. The nearest resistance is at 131.00. There is a potential for further decline. Indicators do not give a clear signal: the price tests MA (50); MACD histogram is in the negative zone and continues to decrease. It is better to open the positions from the key levels.
The comparative analysis of the indicators of the company and its competitors suggests the neutrality of its share prices.
Resistance levels: 131.00, 133.00, 135.00.
Support levels: 129.25, 127.50, 125.00.
Trading tips
Short positions can be opened after the price is set below the level of 129.25. The closing of the profitable positions is possible at the levels of 127.75, 126.25 and 125.00. Stop loss is 130.75.
Long positions can be opened after the price is set above the level of 131.00 with the targets at 133.00–134.50. Stop loss is 129.50.
Implementation period: 3 days.
Johnson&Johnson stocks are trading near the monthly low, losing 2.38% in the first half of August. The company has applied to the United States and the EU to expand the labeling of the medicine from myeloma Darzalex, which will strengthen the market position of one of the best-selling Johnson&Johnson’s drugs. In the 2nd quarter, revenue from the sale of Darzalex increased by 64% YoY to a record $432 million.
During the last week, Johnson&Johnson fell 1.49% against the decrease in the S&P 500 index by 0.66%.
Support and resistance
Since the beginning of this month, the stocks are in the correction. At the moment, the issuer is testing the "mirror" support of 129.25. The nearest resistance is at 131.00. There is a potential for further decline. Indicators do not give a clear signal: the price tests MA (50); MACD histogram is in the negative zone and continues to decrease. It is better to open the positions from the key levels.
The comparative analysis of the indicators of the company and its competitors suggests the neutrality of its share prices.
Resistance levels: 131.00, 133.00, 135.00.
Support levels: 129.25, 127.50, 125.00.
Trading tips
Short positions can be opened after the price is set below the level of 129.25. The closing of the profitable positions is possible at the levels of 127.75, 126.25 and 125.00. Stop loss is 130.75.
Long positions can be opened after the price is set above the level of 131.00 with the targets at 133.00–134.50. Stop loss is 129.50.
Implementation period: 3 days.
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