JNJ plummets, loses $1.83 (-1.43%) within a single day

Johnson & Johnson (JNJ) Technical Analysis Report for Jul 13, 2018

Highlights

JNJ crashes, loses $1.83 (-1.43%) within a single day
JNJ breaks below 100-day moving average
JNJ fails to close above 100-day moving average
JNJ breaks below previous session low
JNJ falls to lowest close since July 6th

TQ Sentiment

Report Sentiment: 57% Bearish
Technical Forecast:

Overview

JNJ finished the week 0.14% higher at 125.93 after tanking $1.83 (-1.43%) today. This is the biggest single day loss in over a month. Today's closing price of 125.93 marks the lowest close since July 6th. Closing below Thursday's low at 127.17, the market confirms its breakout through the prior session's low having traded $1.85 below it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for JNJ

Volatility

Friday's trading range was $2.18 (1.74%), that's far above last trading month's daily average range of $1.59. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly above average.

Support/Resistance

Prices are trading close to a key support level at 125.24. After spiking up to 127.50 during the day, the stock found resistance at the 100-day moving average at 126.29.

Trend

Although still in a long-term downtrend, the short and medium-term trends both turned bullish already. The share broke below the 100-day moving average at 126.29 today for the first time since July 11th.

Conclusion

While classical technical analysis indicates a slightly bearish sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Johnson & Johnson

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