Pharmaceuticals Industry Stocks Technical Analysis - JNJArchive
- 11/24/2023 -
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Johnson & Johnson (JNJ) Technical Analysis
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|It was a second consecutive positive week for the Johnson & Johnson (JNJ). During the week, the JNJ gained 2.71 points, or 1.81%, and closed at 152.50 on Friday, November 24, 2023. Weekly volume was -47% below average. |
Long-term trend: [See JNJ long-term trend chart]
A long-term uptrend had started on March 9, 2009 at 46.25 and reached 186.69 on April 25, 2022. JNJ gained -140.44 points, or -303.65%, in 685 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 129.57 and resistance is at 189.36. A Broadening Ascending 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 Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.
Medium-term trend: [See JNJ medium-term trend chart]
A medium-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 136.60 and resistance is at 173.43. 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 oversold. Use the Technical Stock Screener to see the list of stocks with weekly 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 September 15, 2023. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.
Short-term trend: [See JNJ short-term trend chart]
A short-term uptrend had started on October 27, 2023 at 144.95 and reached 152.68 on November 24, 2023. JNJ gained -7.73 points, or -5.33%, in 28 days. Price is near the trend high.
Daily Technical Indicators: [See JNJ daily technical indicators chart]
Daily Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic.
The daily MACD line is above its signal line since November 2, 2023. This is an indication that the short-term trend is up.
During the last week, the price has moved above 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.
Price is close to the 50 Day Moving Average. While daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance level. 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.