Impressive Technicals for JNJ

It is difficult not be impressed with the price action in Johnson & Johnson (JNJ) during the 5-week period of extremely weak price action in the larger SPX.

My technical works argues that all of the action in JNJ for the past 5 weeks represents a high-level, bullish consolidation period, which when complete should resolve itself to the upside in a thrust to new highs that projects into the 70.00 area next.

Only a decline that breaks 65.50/10 will compromise the developing bullish pattern.

  • Action-Oriented Trade Set-Ups in Stocks & ETFs
  • Macro Analysis of the Broader Markets
  • Detailed Technical Guidance for each Trading Idea
  • Live Interaction w/ Mike & Our Member Community
  • And Much, Much More!
Join Now! - Special Offer!
Veteran Wall Street analyst and financial author, Mike provides detailed and timely analysis and trade set-ups on a range of markets. Read more...

Have Mike's “Out Front” morning analysis delivered FREE to your email inbox twice weekly!