JNJ slips to lowest close since July 26th


Johnson & Johnson (JNJ) Technical Analysis Report for Aug 10, 2018

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

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 Candlestick Chart (JNJ as at Aug 10, 2018):

Daily technical analysis candlestick chart for Johnson & Johnson (JNJ) as at Aug 10, 2018

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.

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.

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


Market Conditions for JNJ as at Aug 10, 2018

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