Johnson & Johnson Stock Forecast

Green day on Friday for Johnson & Johnson
(Updated on May 10, 2024)

JNJ.F Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 2.49%. 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). Johnson & Johnson has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Johnson & Johnson stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at 140.06€. On a fall, the stock will find some support from the short-term average at 138.56€. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.

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

Johnson & Johnson finds support from accumulated volume at 136.66€ 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 1.00€ between high and low, or 0.721%. For the last week the stock has had daily average volatility of 0.85%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (JNJ.F) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect Johnson & Johnson to open at 139.04€, and during the day (based on 14 day Average True Range), to move between 136.92€ and 140.84€, which gives a possible trading interval of +/-1.96€ (+/-1.41%) up or down from last closing price. If Johnson & Johnson takes out the full calculated possible swing range there will be an estimated 2.82% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 139.62€ (0.53%) than the support at 136.66€ (1.60%), 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 negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -2.321 Sell Candidate Unchanged

Predicted Opening Price for Johnson & Johnson of Monday, May 13, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.