April

Resistance

Daily

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>JNJ stock price lost 0.35% in the last trading session to close at $163.73.</a> </li> 
 <li> <span>2</span> <a>Johnson &amp; Johnson’s stock price (NYSE: JNJ) dropped after suffering rejection from $175 eroding the gains due to the earnings.&nbsp;</a> </li> 
</ul> 
<p>JNJ stock price bottomed out in April 2023 to shift its long-term trend to an uptrend and surged to form an ascending triangle pattern over the daily chart. The recent quarterly earnings impacted the stock positively surging from $156 to $175 gaining more than 10% in merely 2 weeks.&nbsp;</p> 
<p>Thereafter, the price declined from the top after a consolidation followed by a gap-down opening. The price tried to sustain near the key moving averages but failed and continued to decline. Currently, the price is nearing the previous demand zone and trendline support from where the buyers might try an attempt to take charge.<br><br>The Analysts offering a 1-year price forecast for Johnson and Johnson have a max estimate of $215.0 and a minimum estimate of 167.00%. Johnson &amp; Johnson is a holding company, which engages in the research and development, manufacture, and sale of products in the healthcare field.&nbsp;</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh3.googleusercontent.com/9Y0PKlvM1JKTYO3Mb4dMjxU0feOkG06mDkEgq4_i0fN1qhc4QBwCGWbf032d_Y-mjxo7DghOuNka0rBFc6g_n2X-efo3REZMGPDARADWrBtHxGnWDgaquaVlHHNWrdER1UPnodkayU50CWFT17EP2hI" alt="JNJ Stock Price Analysis: Has Price Entered The Discounted Zone?"> 
  <figcaption class="wp-element-caption">
    &nbsp;Source: barchart.com 
  </figcaption> 
 </figure> 
</div> 
<p>JNJ stock option-chain analysis states that the current implied volatility in the market is 15.23% with an increment of 0.43% in the last trading session. The at-the-money strike price has 309 open contracts on the call side and 1825 open contracts on the put side indicating the dominance of buyers at the current level. The PUT/CALL ratio is 0.58 indicating that sellers dominating at the moment as per the data.</p> 
<h2 class="wp-block-heading" id="strong-jnj-stock-price-nearing-previous-demand-zone-strong"><strong>JNJ Stock Price Nearing Previous Demand Zone</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh3.googleusercontent.com/gQeh7T-gTHwkCYWrn208_ZGzpwAekXK8muQLo77KvCSMJYYo_UjZCuzPbA3ZxUlmGcSzUaXW896ytAGxgiV1qsQe3Vi8yeLank9amYo_sZqEzezWhLmJIbfHPFVFSbfx2M3i3DqQ87S7ZtvFHdU-E3E" alt="JNJ Stock Price Analysis: Has Price Entered The Discounted Zone?"> 
  <figcaption class="wp-element-caption">
    Source: Johnson &amp; Johnson 1D. NYSE By <a href="https://www.tradingview.com/x/3wB4g70u/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>The<a href="https://www.thecoinrepublic.com/2023/08/12/jnj-stock-nyse-jnj-price-is-loading-up-for-the-200-level/" rel="noopener noreferrer nofollow"> JNJ stock price </a>currently trades at $163.73 and declining near the recent support level. The price may continue to decline till the $160 level from which buyers may take charge and the price may experience some buying volume.&nbsp;</p> 
<p>The long-term trend is bullish which may invite buyers at the lower levels. The stock may show some dip in the short term to resume its trend in the long term.</p> 
<h3 class="wp-block-heading" id="strong-the-emas-showing-a-golden-crossover-on-the-daily-chart-strong"><strong>The EMAs Showing A Golden Crossover On the Daily Chart</strong></h3> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh3.googleusercontent.com/PvyivF25CJBRN__-CsVECBuKuZragZ0GdTbzsKg5MGO78YD3eTE2PbyAtKhFjTxeN_nbVSs0jzg1ooU78C3Z5DoeGYbqSk0Y5TDYGSHo6siWnkOjF1WsFJTemCBG-i6u4cw8KQhWiZvVezF_hNG3-2Y" alt="JNJ Stock Price Analysis: Has Price Entered The Discounted Zone?"> 
  <figcaption class="wp-element-caption">
    Source: Johnson &amp; Johnson 1D. NYSE By <a href="https://www.tradingview.com/x/3wB4g70u/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>The daily JNJ stock price chart shows that the price could not sustain above 50 and EMA indicates a short-term domination of sellers in the market. The overall Technical Opinion rating including RSI and MACD is signaling an 8% buy with the weakest short-term outlook on maintaining the current direction.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p><a href="https://www.thecoinrepublic.com/2023/08/12/jnj-stock-nyse-jnj-price-is-loading-up-for-the-200-level/" rel="noopener noreferrer nofollow">Johnson and Johnson’s (JNJ) stock price</a> rose 10% after strong quarterly earnings but then fell from $175 to $163.73 due to a gap-down opening and a consolidation. Currently, the price is approaching the support level of $160 and the trendline of an ascending triangle pattern. Analysts predict a maximum price of $215 in a year. The long-term trend is bullish and the short-term trend may reverse from the support level. The stock may attract buyers at lower levels and resume its uptrend.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li><strong>Support levels:</strong> $160.64 and $156.8.</li> 
 <li><strong>Resistance levels:</strong> $175.4 and $180.5.</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.&nbsp;</p>

JNJ Stock Price Analysis: Has Price Entered The Discounted Zone?

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Thecoinrepublic.com

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