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Johnson & Johnson: technical analysis 13.02.2023
Good afternoon, dear forum visitors!
NPBFX offers the latest release of analytics on Johnson & Johnson for a better understanding of the current market situation and more efficient trading.
The shares of Johnson & Johnson, one of the world's leading retail holdings, are correcting at 162.00.
On the daily chart, the price is declining within a downtrend, almost reaching the global low of last September at 160.00.
On the four-hour chart, the consolidation below the key level of 160.00 will become a marker for the transition of the corrective decline into a trend with further movement to levels around 150.00, and if it is held, a local increase to the high of the end of January at 169.00 is possible.
Technical indicators keep a stable sell signal: the EMA fluctuation range on the Alligator indicator expands downwards, and the AO histogram forms downward bars, moving away from the transition level.
Trading tips
Short positions may be opened after the price drops and consolidates below 160.00 with the target at 153.00. Stop loss – 163.00. Implementation period: 7 days or more.
Long positions may be opened after a reversal, growth, and consolidation of the price above 164.00 with the target at 169.00. Stop loss – 161.00.
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Use the current recommendations of analysts on Johnson & Johnson and trade efficiently with NPBFX.