Johnson & Johnson
Johnson & Johnson reported a 35.3% fall in second-quarter profit on Thursday as demand for its medical devices was hammered by hospitals putting off non-urgent procedures like knee and hip replacement because of the COVID-19 pandemic.
Johnson & Johnson to start human trials of its experimental Covid-19 vaccine
The company, that is set to start human trials of its experimental coronavirus vaccine this month, reported net earnings of $3.63 billion, or $1.36 per share, down from $5.61 billion, or $2.08 per share, a year earlier.
However, the company raised its full-year adjusted profit forecast to $7.75 to $7.95 per share, from its previous estimate of $7.50 to $7.90 per share.
Johnson & Johnson is a holding company, which is engaged in the research and development, manufacture and sale of a range of products in the healthcare field.
It operates through three segments: Consumer, Pharmaceutical and Medical Devices.
Its primary focus is products related to human health and well-being.
The Consumer segment includes a range of products used in the baby care, oral care, skin care, over-the-counter pharmaceutical, women’s health and wound care markets.
The Pharmaceutical segment is focused on five therapeutic areas, including immunology, infectious diseases, neuroscience, oncology, and cardiovascular and metabolic diseases.
The Medical Devices segment includes a range of products used in the orthopedic, surgery, cardiovascular, diabetes care and vision care fields.
Its research facilities are located in the United States, Belgium, Brazil, Canada, China, France, Germany, India, Israel, Japan, the Netherlands, Singapore, Switzerland and the United Kingdom.
Overall, the bias in prices is: Upwards.
The projected upper bound is: 154.38.
The projected lower bound is: 144.11.
The projected closing price is: 149.24.
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 22 white candles and 28 black candles for a net of 6 black candles.
A long lower shadow occurred. This is typically a bullish signal (particularly when it occurs near a low price level, at a support level, or when the security is oversold).
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 87.2884. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 5 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 65.92. 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 95 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 144.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 11 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 buy 8 period(s) ago.
Rex Takasugi – TD Profile
JOHNSON JOHNSON closed up 0.990 at 149.250. Volume was 34% below average (neutral) and Bollinger Bands were 39% narrower than normal.
Open High Low Close Volume 148.850 149.340 146.710 149.250 1,922,019
Technical Outlook Short Term: Overbought Intermediate Term: Bullish Long Term: Bullish
Moving Averages: 10-period 50-period 200-period Close: 144.56 145.14 141.22 Volatility: 16 23 40 Volume: 1,869,445 2,261,753 2,593,644
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 5.7% above its 200-period moving average and is in an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future.
Our volume indicators reflect volume flowing into and out of JNJ.N at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on JNJ.N and have had this outlook for the last 3 periods.
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