Johnson & Johnson Stock Forecast

JNJ Signals & Forecast

The Johnson & Johnson stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $153.05 and $151.06. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, October 27, 2023, and so far it has risen 8.78%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.

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Support, Risk & Stop-loss for Johnson & Johnson stock

Johnson & Johnson finds support from accumulated volume at $156.09 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $2.99 between high and low, or 1.92%. For the last week the stock has had daily average volatility of 1.26%.

The Johnson & Johnson stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: $151.98 (-4.04%) (This stock has low daily movements and this gives low risk. The RSI14 is 88 and this increases the risk substantially. There is a buy signal from a pivot bottom found 24 days ago.)

Trading Expectations (JNJ) For The Upcoming Trading Day Of Monday 4th

For the upcoming trading day on Monday, 4th we expect Johnson & Johnson to open at $157.44, and during the day (based on 14 day Average True Range), to move between $156.28 and $160.48, which gives a possible trading interval of +/-$2.10 (+/-1.32%) up or down from last closing price. If Johnson & Johnson takes out the full calculated possible swing range there will be an estimated 2.65% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $160.03 (1.04%) than the support at $156.09 (1.45%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Johnson & Johnson stock A Buy?

Johnson & Johnson holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.000 Open Broker Account

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

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