Johnson & Johnson (NYSE:JNJ) Continuation of Bearish Trend
Overall, the bias in prices is: Downwards.
Short term: Prices are moving.
Intermediate term: Prices are trending.
Note: this chart shows extraordinary price action to the downside.
By the way, prices are vulnerable to a correction towards 138.37.
The projected upper bound is: 136.98.
The projected lower bound is: 125.17.
The projected closing price is: 131.07.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 25 white candles and 25 black candles.
Three white candles occurred in the last three days. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 73.7696. This is not an overbought or oversold reading. The last signal was a buy 8 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 38.45. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 4 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -42. This is not a topping or bottoming area. The last signal was a buy 3 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 16 period(s) ago.
Rex Takasugi – TD Profile
JOHNSON JOHNSON closed up 1.560 at 131.230. Volume was 22% below average (neutral) and Bollinger Bands were 185% wider than normal.
Open High Low Close Volume___
130.100 131.280 129.400 131.230 1,695,251
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 130.83 140.08 135.14
Volatility: 44 27 18
Volume: 3,168,558 2,551,141 1,969,830
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
JOHNSON JOHNSON is currently 2.9% below its 200-period moving average and is in an downward trend. Volatility is high as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of JNJ.N at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on JNJ.N and have had this outlook for the last 11 periods.
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