Johnson & Johnson Stock Forecast
Green day on Wednesday for Johnson & Johnson stock after gaining 1.41%
(Updated on Mar 27, 2024)
The Johnson & Johnson stock price gained 1.41% on the last trading day (Wednesday, 27th Mar 2024), rising from $155.77 to $157.96. During the last trading day the stock fluctuated 1.79% from a day low at $155.44 to a day high of $158.22. The price has fallen in 8 of the last 10 days and is down by -1.95% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 7 million shares were bought and sold for approximately $1.08 billion.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Johnson & Johnson stock with a 90% probability to be traded between $152.19 and $159.81 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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JNJ Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, March 25, 2024, and so far it has risen 1.77%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. 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 $158.57. On a fall, the stock will find some support from the short-term average at $155.99. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Johnson & Johnson stock
Johnson & Johnson finds support from accumulated volume at $156.76 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 $2.78 between high and low, or 1.79%. For the last week the stock has had daily average volatility of 1.08%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (JNJ) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Johnson & Johnson to open at $157.21, and during the day (based on 14 day Average True Range), to move between $156.03 and $159.89, which gives a possible trading interval of +/-$1.93 (+/-1.22%) up or down from last closing price. If Johnson & Johnson takes out the full calculated possible swing range there will be an estimated 2.44% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $158.06 (0.06%) than the support at $156.76 (0.76%), 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: -1.471 Sell Candidate Unchanged
Predicted Opening Price for Johnson & Johnson of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$157.21 ( 0.477%) | $157.96 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for JNJ
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 159.99 | 1.28 % | |
R2 | 158.92 | 0.611 % | ||
R1 | 158.27 | 0.195 % | ||
Current price: | 157.96 | |||
Support | S1 | 156.14 | -1.15 % | |
S2 | 155.49 | -1.56 % | ||
S3 | 154.43 | -2.24 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 161.38 | 2.17 % | |
R2 | 159.97 | 1.27 % | ||
R1 | 158.06 | 0.0633 % | ||
Current price | 157.96 | |||
Support | S1 | 156.76 | -0.760% | |
S2 | 156.47 | -0.94% | ||
S3 | 156.40 | -0.99% |
JNJ Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jan 02, 2024 | Feb 16, 2024 | Mar 05, 2024 | $1.19 | 0.744% |
2 | Oct 19, 2023 | Nov 20, 2023 | Dec 05, 2023 | $1.19 | 0.751% |
3 | Jul 20, 2023 | Aug 25, 2023 | Sep 07, 2023 | $1.19 | 0.744% |
4 | Apr 18, 2023 | May 22, 2023 | Sep 07, 2023 | $1.19 | 0.744% |
5 | Jan 03, 2023 | Feb 17, 2023 | Mar 07, 2023 | $1.13 | 0.733% |
FAQ
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