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Advanced TA SearchArchive - 3/15/2024 - Sign In to see current Signals. |
Johnson & Johnson (JNJ) Technical Analysis
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| Summary:
| | Weekly : | | Daily : Move cursor over the icon to see details.
| | It was the negative week for the Johnson & Johnson (JNJ). During the week, the JNJ gave back -1.34 points, or -0.84%, and closed at 158.18 on Friday, March 15, 2024. Weekly volume was -38% below average. Long-term trend: [See JNJ long-term trend chart] A long-term downtrend had started on April 25, 2022 at 186.69 and reached 144.95 on October 27, 2023. JNJ lost 41.74 points, or 22.36%, in 78 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 139.11 and resistance is at 170.92. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a long-term trend. Medium-term trend: [See JNJ medium-term trend chart] A medium-term uptrend had started on October 27, 2023 at 144.95 and reached 163.58 on January 22, 2024. JNJ gained -18.63 points, or -12.85%, in 12 weeks. The chart has formed a Ascending Triangle chart pattern. The trend support level is at 157.65 and resistance is at 163.07. An Ascending Triangle is a variation of triangle formation that has a flat resistance line and rising support line. The higher lows indicate an increasing demand and give the ascending triangle definitive bullish bias. An Ascending Triangle usually represents an accumulation stage in bullish market. An Ascending Triangle is considered to be a continuation pattern, especially in an uptrend, but it may also mark a reversal in a downtrend. Use the following link to access a Ascending Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Ascending Triangle pattern in a medium-term trend. Weekly Technical Indicators: [See JNJ weekly technical indicators chart] Weekly technical indicators are neutral. The weekly MACD line is above its signal line since December 15, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help. Short-term trend: [See JNJ short-term trend chart] A short-term downtrend had started on March 12, 2024 at 163.11 and reached 157.10 on March 15, 2024. JNJ lost 6.01 points, or 3.68%, in 3 days. The price is now at the 17.97% retracement level. Daily Technical Indicators: [See JNJ daily technical indicators chart] Daily technical indicators are neutral. The daily MACD line is below its signal line since March 13, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term downtrend is getting stronger. During the last week, the 20 Day Moving Average has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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