JNJ slips to lowest close since July 26th


Johnson & Johnson (JNJ) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
JNJ breaks key support level
JNJ runs into sellers around 131.63 for the third day in a row
JNJ falls to lowest close since July 26th
JNJ closes within previous day's range
JNJ ends the day indecisive
TQ Sentiment
Report Sentiment: 40% Bearish
Technical Forecast:
Overview

JNJ ended the week -0.91% lower at 130.75 after losing $0.45 (-0.34%) today on low volume. Today's closing price of 130.75 marks the lowest close since July 26th. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range. 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 $1.37 (1.04%), that's slightly below last trading month's daily average range of $1.55. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being slightly below average.

Support/Resistance

Breaking below the key support level at 130.90 today, it is now likely to act as resistance going forward. The share ran into sellers again today around 131.63 for the third trading day in a row after having found sellers at 131.72 in the prior session and at 131.80 two days ago.

Trend

The stock shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend being bullish.

Conclusion

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

Market Conditions for Johnson & Johnson
Condition Forecast Direction Win Avg Worst Best Events
Strong Up Move TQ Pro Members Only
Decisive Up Move TQ Pro Members Only
White Candle TQ Pro Members Only
Price broke through Technical Resistance R1 TQ Pro Members Only
Very Strong Up Move TQ Pro Members Only
More market conditions identified for TQ Pro members...
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