Scenario Timeframe Weekly Recommendation SELL STOP Entry Point 162.50 Take Profit 157.00 Stop Loss 165.00 Key Levels 157.00, 160.00, 164.30, 166.00, 172.00, 177.00
Alternative scenario Recommendation BUY STOP Entry Point 166.00 Take Profit 172.00 Stop Loss 163.00 Key Levels 157.00, 160.00, 164.30, 166.00, 172.00, 177.00
Shares of Johnson & Johnson, one of the world’s leading retail holdings, are correcting at 164.30.
On the daily chart, the price is moving downwards within the global corrective trend towards the support line of the rising channel with dynamic boundaries 177.00–160.00.
On the four-hour chart, the quotes formed a dynamic downward impulse, having confidently broken the local low of August 1 at 166.00, and now they continue to move downwards. The next local low of 157.00 will be reached soon, after which consolidation is possible.
Technical indicators have given a sell signal: the range of EMA fluctuations on the Alligator indicator is actively expanding downwards, and the AO histogram is forming downward bars in the sell zone.
Trading tips
Short positions may be opened after a reversal, reduction, and consolidation of the price below 162.50 with the target at 157.00. Stop loss – 165.00. Implementation period: 7 days or more.
Long positions may be opened after the price rises and consolidates above 166.00 with the target at 172.00. Stop loss – 163.00.
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL STOP |
| Entry Point | 162.50 |
| Take Profit | 157.00 |
| Stop Loss | 165.00 |
| Key Levels | 157.00, 160.00, 164.30, 166.00, 172.00, 177.00 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 166.00 |
| Take Profit | 172.00 |
| Stop Loss | 163.00 |
| Key Levels | 157.00, 160.00, 164.30, 166.00, 172.00, 177.00 |
Shares of Johnson & Johnson, one of the world’s leading retail holdings, are correcting at 164.30.
On the daily chart, the price is moving downwards within the global corrective trend towards the support line of the rising channel with dynamic boundaries 177.00–160.00.
On the four-hour chart, the quotes formed a dynamic downward impulse, having confidently broken the local low of August 1 at 166.00, and now they continue to move downwards. The next local low of 157.00 will be reached soon, after which consolidation is possible.
Technical indicators have given a sell signal: the range of EMA fluctuations on the Alligator indicator is actively expanding downwards, and the AO histogram is forming downward bars in the sell zone.
Trading tips
Short positions may be opened after a reversal, reduction, and consolidation of the price below 162.50 with the target at 157.00. Stop loss – 165.00. Implementation period: 7 days or more.
Long positions may be opened after the price rises and consolidates above 166.00 with the target at 172.00. Stop loss – 163.00.
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