JNJ closes within prior day's range
Johnson & Johnson (JNJ) Technical Analysis Report for Feb 14, 2020 | by Techniquant Editorial Team
JNJ finished the week -1.16% lower at 150.13 after edging higher $0.04 (0.03%) today, slightly outperforming the Dow Indu. (-0.09%) ahead of tomorrow's Presidents' Day market holiday. Closing within the prior day's range, prices missed to decisively move beyond the previous day's trading range.
Daily Candlestick Chart (JNJ as at Feb 14, 2020):
Friday's trading range has been $1.49 (0.99%), that's slightly below the last trading month's daily average range of $1.70. Weekly volatility is also lower, being below the market's average weekly trading range. The longer-term, monthly volatility is currently slightly lower than usual for JNJ.
One bullish candlestick pattern matches today's price action, the Hammer. The last time a Hammer showed up on January 7th, JNJ actually lost -0.01% on the following trading day.
Prices are trading close to the key technical resistance level at 150.89 (R1).
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.