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Archive
- 4/5/2024 -
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Johnson & Johnson (JNJ) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the Johnson & Johnson (JNJ). During the week, the JNJ dropped -5.80 points, or -3.67%, and closed at 152.39 on Friday, April 5, 2024. It was the worst weekly loss since October 27, 2023. Weekly volume was -39% 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 138.37 and resistance is at 170.46. 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 uptrend support line (159.52) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. JNJ may retest the broken support line. It is considered to be a resistance line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a medium-term trend.
 Weekly Technical Indicators: [See JNJ weekly technical indicators chart]
Weekly technical indicators are neutral.
During the last week, weekly MACD line has moved below its signal line. Such crossover is considered a bearish signal. 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 28, 2024 at 159.14 and reached 151.61 on April 5, 2024. JNJ lost 7.53 points, or 4.73%, in 8 days. The price is now at the 10.36% retracement level.
 Daily Technical Indicators: [See JNJ daily technical indicators chart]
Daily Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold Williams' Percentage Range. Daily Lane's Stochastic and MACD have bullish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic and MACD bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.
The daily MACD line is below its signal line since April 2, 2024. This is an indication that the short-term trend is down.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
 Candlestick pattern: [See JNJ candlestick chart pattern]
On Friday the chart has formed a Bearish On Neck Candlestick pattern. This is the weakest bearish continuation signal; it appears in a downtrend. Use the Technical Stock Screener to see the list of stocks that had a Bearish On Neck Candlestick pattern during the last week.
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