JNJ is unchained

16 Sep

JNJ is unchained

JNJ has spent 4 years moving sideways, which basically means the market agreed this was the fair price for the stock.

But this August, we saw analysts like Joanne Wuensch from Citi start pointing to the $200 zone, and it looks like she might have been right. 🚀

If you missed the rectangle breakout, JNJ is now giving a second amazing opportunity. After a strong rally and a confirmed breakout ending the balance between bulls and bears, we’re now in a bull flag. Traders are taking profits, but it’s clear that sellers can’t take control.

Volume keeps dropping, and that usually sets up for an upside breakout soon.

This looks like a very attractive buy with potential toward $190–$200 in just a few days, with a tight stop-loss of around 1%.

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semalam

Dagangan ditutup: sasaran tercapai

A 6% take profit was achieved with a tight stop of just 1%. This is the magic of technical analysis, low-risk, high-return opportunities.