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Downtrend ResistanceArchive
- 1/3/2025 -
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Johnson & Johnson (JNJ) Technical Analysis
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| Summary:
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| | It was the negative week for the Johnson & Johnson (JNJ). During the week, the JNJ gave back -0.90 points, or -0.62%, and closed at 144.20 on Friday, January 3, 2025. Weekly volume was -12% below average.
JNJ is a member of Health Care Sector. Health Care is the second most oversold sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See JNJ long-term trend chart]
A long-term downtrend had started on April 25, 2022 at 186.69 and reached 142.80 on December 20, 2024. JNJ lost 43.89 points, or 23.51%, in 138 weeks. The chart has formed a Falling Channel chart pattern. The trend support level is at 137.30 and resistance is at 166.56. A Falling Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Falling Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Channel pattern in a long-term trend.
 Medium-term trend: [See JNJ medium-term trend chart]
A medium-term downtrend had started on September 4, 2024 at 168.85 and reached 142.80 on December 20, 2024. JNJ lost 26.05 points, or 15.43%, in 15 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 142.09 and resistance is at 162.73. 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 medium-term trend.
 Weekly Technical Indicators: [See JNJ weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with weekly strongly oversold Williams' Percentage Range and Lane's Stochastic. 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 weekly MACD line is below its signal line since November 1, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term downtrend is strong. 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 December 27, 2024 at 146.60 and reached 143.00 on December 30, 2024. JNJ lost 3.60 points, or 2.46%, in 3 days. The price is now at the 33.33% retracement level.
 Daily Technical Indicators: [See JNJ daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range.
The daily MACD line is above its signal line since December 24, 2024. The distance between MACD and the signal line is low, but getting bigger.
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.
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