JOHNSON AND JOHNSON Stock Code JNJ.NYS
Price tested the cloud on 29 April and was able to hold above the cloud. The next day we saw the start of a rally which has brought price to the recent high at $167.79. A break above this recent high would confirm the bullish trend for the previous high at $173.74. Conversion and Base lines had already had a bullish crossover earlier, hinting of a bullish price trend. Lagging Span is above price of 26 days ago and above the cloud, confirming the bullish trend. MACD is bullish with both lines above the zero line. We think price is likely to move higher to the Ichimoku V shaped price projection at $173.95 in the next 2-3 weeks.
$173.90 Price Target
$162.50 Risk Management Stop
3 weeks Trade Duration