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Johnson & Johnson Trading Analysis (11/11/2024)

11.11.2024

Market Review

The trend is ascending. The stock is trading in a range between 365 and 135 ЕМАs. The downward wave structure is truncated. The Stochastic Oscillator signals an oversold condition.

Trading idea:

Buy at the beginning of the formation of the ascending wave structure, when wave A breaks the sloping channel of the truncated downtrend structure.
Stop-loss at 155.37.
Price targets at 161.30 and 166.00.

#johnsonandjohnson #stock #tradersroom #daytradingpatterns

Author: GC

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